On August 12, 2024, Marathon Digital Holdings, Inc. (Marathon Digital), a leader in digital asset compute, announced its plans to offer $250 million in convertible senior notes due 2031 to qualified institutional buyers, with an additional option for purchasers to buy up to $37.5 million more within a 13-day period. The offering, which is subject to market conditions, is expected to close on August 14, 2024, with the company anticipating net proceeds of approximately $243.8 million, or $292.5 million if the additional notes are fully purchased. Marathon Digital aims to use the proceeds to acquire more bitcoin and for general corporate purposes, including working capital, strategic acquisitions, and debt repayment. The notes will be unsecured and bear interest semi-annually, with a maturity date of September 1, 2031, unless earlier repurchased...Show More

On August 12, 2024, Marathon Digital Holdings, Inc. (Marathon Digital), a leader in digital asset compute, announced its plans to offer $250 million in convertible senior notes due 2031 to qualified institutional buyers, with an additional option for purchasers to buy up to $37.5 million more within a 13-day period. The offering, which is subject to market conditions, is expected to close on August 14, 2024, with the company anticipating net proceeds of approximately $243.8 million, or $292.5 million if the additional notes are fully purchased. Marathon Digital aims to use the proceeds to acquire more bitcoin and for general corporate purposes, including working capital, strategic acquisitions, and debt repayment. The notes will be unsecured and bear interest semi-annually, with a maturity date of September 1, 2031, unless earlier repurchased, redeemed, or converted. The company has also stated that the notes will be convertible into cash, shares of Marathon Digital's common stock, or a combination thereof, at the company's discretion. The offering and sale of the notes and any shares of common stock issuable upon conversion have not been registered under the Securities Act or any state securities laws and will be offered only through a private offering memorandum.