Marathon Digital, one of the most important Bitcoin mining companies in America, plans to raise $500,000,000 through senior convertible notes. The proceeds will be used to purchase bitcoin and BTC mining equipment.
Marathon Digital Holdings was founded over a decade ago. It is one of the most prominent publicly traded BTC mining companies. The company’s offer will be private to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The total amount raised could increase by $75 million if certain conditions are met.
“Marathon expects to give initial purchasers of the note an option to settle within 13 days of, and including the date of, the notes’ first issue, to purchase an additional $75,000,000 principal amount of Notes.”
These notes will be unsecured obligations and will pay interest twice a year. They will expire on December 1, 2026.
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