CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$20,044.00
  • ethereum
    ETH$1,102.84
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Marathon Digital Plans to Buy Bitcoin and Mining Machines, Raises $500M in Debt

    Marathon Digital Plans to Buy Bitcoin and Mining Machines, Raises $500M in Debt

    Author: Jordan Lyanchev

    Last Updated Nov 15, 2021 @ 13:48

    Marathon Digital will take a page out of MicroStrategy’s playbook by raising $500 million in debt to buy bitcoin.

    One of the largest Bitcoin mining companies in the States – Marathon Digital – plans to raise $500 million through the issuance of senior convertible notes. The firm wants to use the proceeds to buy bitcoin and BTC mining machines.

    • Founded over a decade ago, Marathon Digital Holdings is among the largest publicly-traded BTC mining companies.
    • The firm’s announcement from earlier on November 15th outlined its plans to “offer, subject to market and other conditions, $500,000,000 aggregate principal amount of convertible senior notes due 2026.”
    • The company’s offering will be a private one to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. If certain conditions are met, the total raised amount could rise by an additional $75 million.
    • “Marathon also expects to grant the initial purchasers of the notes an option, for settlement within a period of 13 days from, and including, the date the notes are first issued, to purchase up to an additional $75,000,000 principal amount of notes.”

    • These notes will be unsecured obligations of the company and will accrue interest payable twice per year, and will mature on December 1st, 2026, unless repurchased, redeemed, or converted earlier.
    • The company plans to utilize the net proceeds for “general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines.”
    • It’s worth noting that Marathon will not be the first publicly-traded large company to raise debt to purchase bitcoin.
    • Michael Saylor’s NASDAQ-listed giant – MicroStrategy – has done the same on a few occasions, ultimately raising more than $1 billion in order to buy BTC.
    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • microstrategy_cover
      MicroStrategy Acquires Nearly 4,000 Bitcoin for $177 Million
    • MicroStrategyBitcoin
      Buying The Dip: MicroStrategy Purchased $240M Worth of Bitcoin
    • BitcoinMoon
      3 Factors That Could Initiate the Next Bitcoin Price Leg Up
    Tags: Bitcoin MicroStrategy
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$20,044.00
  • ethereum
    ETH$1,102.84
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Binance Visa Card Guide: Read Before You Order

    Binance Visa Card Guide: Read Before You Order

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Okay Bears NFT Collection: The Complete Guide

    Okay Bears NFT Collection: The Complete Guide

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!