Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Markets>
Marathon Digital intends to offer $250 million in covertible notes to buy more BTC

Marathon Digital intends to offer $250 million in covertible notes to buy more BTC

The Block2026/08/19 00:09
By: The Block
BTC-0.62%

Marathon Digital Holdings has announced its intention to offer $250 million worth of convertible senior notes in a private offering to qualified institutional buyers.

It plans to use the net proceeds from the sale to acquire additional bitcoin and for general corporate purposes.

Marathon's offering is subject to market and other conditions — meaning that, despite the intention, it is not guaranteed to be completed under the planned terms.

The notes will be unsecured, senior obligations that bear interest payable semi-annually in arrears on the first days of March and September of each year, beginning next year.

The notes will mature on Sept. 1, 2031, unless repurchased earlier.

Marathon Digital's intention to offer the convertible notes comes after it reported a net loss of $199.7 million in Q2 2024 — significantly more than the $9 million loss it reported in the same quarter last year.

Late last month, Marathon Digital announced it had purchased an additional $100 million worth of bitcoin — bringing its balance sheet to more than 20,000 bitcoin.


Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Trending news

More
1
Meta Just Went to Trial Against 29 States — And Zuckerberg Is Expected to Testify
2
BANDWIDTH INC. <BAND.O>: PIPER SANDLER RAISES TARGET PRICE TO $52 FROM $38

Crypto prices

More
Bitcoin
Bitcoin
BTC
$64,241.73
+0.28%
Ethereum
Ethereum
ETH
$1,909.15
+0.90%
Tether USDt
Tether USDt
USDT
$0.9991
+0.01%
USDC
USDC
USDC
$0.9999
+0.00%
XRP
XRP
XRP
$0.9992
+0.87%
Solana
Solana
SOL
$76.91
+1.94%
TRON
TRON
TRX
$0.3327
+0.35%
Hyperliquid
Hyperliquid
HYPE
$58.4
-1.39%
Dogecoin
Dogecoin
DOGE
$0.07002
+0.39%
Zcash
Zcash
ZEC
$504.77
-0.70%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter