NASDAQ-listed Bitcoin mining company Marathon raises $500 million in debt

Marathon Digital Holdings, one of the largest Bitcoin (Bitcoin) U.S. mining companies are seeking to raise $500 million in debt to buy Bitcoin and establish new Bitcoin miners.

NASDAQ officially listed company Announce There was a private bond issuance on Monday with a total principal amount of US$500 million in convertible senior notes. The company also hopes to grant initial purchasers the option to purchase up to $75 million in principal of the notes 13 days after the initial issuance of the notes.

“These notes will be Marathon’s senior unsecured debt, which will be paid semi-annually and will expire on December 1, 2026, unless they are repurchased, redeemed or converted in advance,” the announcement stated.

According to the announcement, the Marathon will use the funds raised for general corporate purposes, such as acquiring bitcoin or setting up new bitcoin mining equipment.

“This will not be included in anyone’s model,”MicroStrategy CEO Michael Thaler Note that it refers to the newly announced release.

Marathon’s stock has reacted to the news. MARA’s stock price has soared by more than 7% in the past 24 hours. trading According to TradingView, it was $75.9 at the time of writing. As Cointelegraph previously reported, MARA hits a six-year high In early November, Marathon accumulated $460 million worth of Bitcoin.

related: Bitcoin miner Stronghold will list nearly 6 million shares in its $100 million IPO

In addition to achieving significant success in its own stocks, Marathon has also promoted many investment products related to the Bitcoin industry, including exchange-traded funds (ETFs). Therefore, Marathon’s stock is part of many crypto exchange-traded products (ETP) that track industry companies, including Volt Equity Crypto industry revolution and technology ETF, Meilan Capital BTC stock universe UCITS ETF, Cosmos Asset Management Global digital miners access ETF And others.