Bitcoin Miner Marathon to Raise $250M in Direct Stock Offering

Nasdaq-listed Marathon said it will use the funds to pay for recent hardware purchases from Bitmain and to expand its business.

Marathon’s stock hit a six-year high in early November, with the firm accumulating $460 million worth of Bitcoin. Marathon Digital Holdings, one of the largest Bitcoin (BTC) mining companies in the United States, is looking to raise $500 million in debt to buy Bitcoin and set up new Bitcoin miners.The Nasdaq-listed company officially announced Monday a private debt offering featuring a $500 million aggregate principal amount of its convertible senior notes. The company also expects to grant the initial purchasers an option to purchase up to an additional $75 million principal amount of....

Nasdaq-listed Marathon Patent Group is buying 10,000 of the more efficient Antminer S19 Pro bitcoin miners from Bitmain in a deal worth millions of dollars. ▪ Marathon said the deal would boost the company’s operations to 23,560 next-generation miners, “making it the largest self-miner in North America”. ▪ When fully installed, the new machines will bring the firm’s total hashrate to 2.56 exahash per second (EH/s) – one of the world’s top 15 bitcoin miners. ▪ In August, Marathon bought another 10,500 miners of the same make for $23....

Publicly-traded bitcoin miner Marathon Digital has seen its share price tumble along with bitcoin. So, does that make it a good buy?

On Monday, the enterprise bitcoin mining operation Marathon Digital Holdings announced the firm will raise $500 million from convertible senior notes in order to accrue more “bitcoin or bitcoin mining machines.” Publicly-Listed Mining Operation to Raise $500M From Debt Markets to Purchase Bitcoin and ASIC Devices Marathon (Nasdaq: MARA), is one of the largest U.S. mining operations and on November 15, the firm revealed it plans to utilize debt markets for “general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines.” The news....