Marathon Digital Raises $250M to Boost Bitcoin Holdings
Marathon Digital Holdings , a leading player in digital asset computing, has unveiled a proposal to raise $250 million through a private offering of convertible senior notes. The company aims to leverage these funds to enhance its Bitcoin holdings and support various corporate initiatives. MARA Announces Proposed Private Offering of $250 Million of Convertible Senior Notes https://t.co/oYRaAHvHbU — MARA (@MarathonDH) August 12, 2024 Offering Details and Terms The planned offering involves issuing convertible senior notes due in 2031. These unsecured senior obligations will bear interest payable semi-annually, starting March 1, 2025. The notes are convertible into cash, shares of Marathon’s common stock, or a combination thereof, depending on the company’s financial strategy. “The notes will be convertible only under specific conditions until March 1, 2031,” said Marathon Digital. The company also has the option to grant an additional $37.5 millio...