Bitcoin Miner Marathon Digital Plans $250M Private Note Sale to Fund Bitcoin Buying
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 12 2024
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Source: Yahoo Finance
Marathon Digital's Fundraising Plans: Marathon Digital intends to raise $250 million through the sale of convertible notes in a private placement to finance bitcoin purchases and general corporate needs.
Current Bitcoin Holdings and Market Activity: The company currently holds over 20,800 bitcoins, significantly more than its closest competitor, Hut 8, and has recently shifted its strategy to retain all mined bitcoin on its balance sheet after selling some for operational costs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
