Marathon Digital Buys Another $250mn of Bitcoin After Senior Note Offering

Bitcoin miner Marathon Digital has expanded its Bitcoin holdings by purchasing an additional $249 million worth of Bitcoin after raising $300 million through a senior note offering. On August 14, Marathon announced that it had used a portion of the proceeds from the note sale to acquire approximately 4,144 Bitcoin at an average price of roughly $59,500. This purchase increased the company’s “strategic Bitcoin reserve to over 25,000 BTC,” as shared on X (formerly Twitter). The convertible senior notes, due in September 2031, yielded net proceeds of around $292.5 million for Marathon. These notes carry a 2.125% annual interest rate