Marathon Digital plans to privately issue $250 million in convertible senior notes, with the funds primarily used to purchase Bitcoin
ChainCatcher news, according to the official announcement, Bitcoin mining company Marathon Digital Holdings, Inc. (NASDAQ: MARA) announced plans to issue $250 million in convertible preferred notes, subject to market conditions, targeting qualified institutional investors. The notes will mature in 2031, with interest paid semi-annually.MARA plans to use the raised funds primarily for purchasing Bitcoin and general corporate purposes, including working capital, strategic acquisitions, asset expansion, and debt repayment. This note issuance is not registered under U.S. securities laws or other jurisdictions and will be conducted solely through a private placement.