Bitcoin mining company MARA plans to issue $700 million in convertible notes, with part of the funds to be used for purchasing Bitcoin

ChainCatcher news, according to official information, Bitcoin-listed mining company Marathon Digital Holdings (MARA) announced plans to issue a total of $700 million in convertible senior notes to qualified institutional investors, with a potential additional issuance of $105 million. The notes will mature on March 1, 2030, and will pay interest semi-annually starting from March 1, 2025.

According to the announcement, MARA plans to use no more than $200 million of the raised funds to repurchase its existing convertible bonds maturing in 2026, while the remaining funds will mainly be used to increase its Bitcoin holdings and for general corporate purposes, including working capital, strategic acquisitions, expansion of existing assets, and debt repayment.