The new raise is part of Marathon’s strategy to go “full hodl” and make Bitcoin a strategic reserve asset for the company.
Marathon Digital Holdings has announced a $250 million offering of convertibles senior notes due in 2031, in a private offering toward “qualified institutional buyers.”
Marathon, the world’s largest Bitcoin (BTC) mining firm, is also considering an additional $37.5 million notes sale to initial purchasers, based on market conditions.
Marathon aims to use the $250 million to acquire more Bitcoin, according to an Aug. 12 announcement:
