Marathon to get $500 M for Bitcoin investments and ASIC miners

The mining company Marathon Digital Holdings expects to strengthen its position in the crypto market. MDH is going to place convertible bonds for investors – bonds with a repayment period till December 1, 2026, will be available for qualified institutional buyers.

Marathon Digital Holdings reserves the right to repay (partially or fully) bonds before December 24, 2024. The scenario will be possible if the MDH stocks increased by 130%. The MDH corporation earlier got approval to place its shares on Nasdaq. At the moment of writing the price of 1 MARA equals $55.40. Since April 2021 the price has already skyrocketed by 400%.

Investments obtained from issued bonds would be spent for Bitcoin and ASIC miners. According to the Q3 report, Marathon Digital holds 7 035 BTC, being ranked at the 5th position among the publicly-listed holders of Bitcoin.

Furthermore, the corporation is going to strengthen its position in the mining industry. As of today, MDH owns 133 120 Bitcoin miners that can provide the hashing power of 13.3 Eh/s. Meanwhile, the MARA pool generates only 0.22% of the overall Bitcoin hashrate (359.09 Ph/s).

The investment conditions are going to be stated right after unlocking such an opportunity for institutional players.