Crypto Blog
Marathon Digital Holdings , one of the largest publicly traded Bitcoin mining companies, has bought approximately $249 million worth of Bitcoin., Marathon Digital Holdings announced the completion of a private offering of 2.125% convertible senior notes due in September 2031., sold to qualified institutional buyers under Rule 144A of the Securities Act of 1933, were highly sought after, leading to the initial investors fully exercising their option to purchase an additional $50 million in notes.
Between August 12 and August 14, Marathon Digital utilized part of the proceeds to acquire around 4,144 BTC at an average price of $59,500 each. This purchase increased the firm’s strategic Bitcoin reserve to over 25,000 BTC.in July, where the firm secured 2,282 BTC valued at $124 million. The company plans to use the remaining funds for further Bitcoin purchases and general corporate purposes, which may include strategic acquisitions, asset expansion, working capital, and debt repayment.
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