Marathon Plans to Raise $500 Million From Convertible Senior Notes to Buy Bitcoin and Mining Rigs

Marathon Plans to Raise $500 Million From Convertible Senior Notes to Buy Bitcoin and Mining Rigs


On Monday, the enterprise bitcoin mining operation Marathon Digital Holdings announced the firm will raise $500 million from convertible senior notes in order to accrue more “bitcoin or bitcoin mining machines.”

Publicly-Listed Mining Operation to Raise $500M From Debt Markets to Purchase Bitcoin and ASIC Devices

Marathon (Nasdaq: MARA), is one of the largest U.S. mining operations and on November 15, the firm revealed it plans to utilize debt markets for “general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines.” The news comes after significant growth during the course of 2021 and at the end of October, Marathon disclosed it had mined 417 bitcoin (BTC). With over $457 million worth of bitcoin held in its coffers, the 417 BTC revenue was considerably

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