Marathon Digital, a Bitcoin mining company, made headlines recently when it accumulated hundreds of millions of dollars worth of Bitcoin following a convertible note offer. According to data from market intelligence firm Lookonchain, Marathon Digital acquired nearly $140 million worth of Bitcoin after closing its second convertible note offering. This move came after the company announced the closing of its second $850 million convertible note offering on December 5th, with the intention of purchasing Bitcoin and partially repurchasing existing notes due in 2026.
A convertible note offering allows a company to issue short-term debt that can later be converted into company shares at a predetermined time in order to raise funds. Following the announcement of the convertible note offering, Marathon Digital continued to accumulate Bitcoin, purchasing another 1,300 BTC worth $130.66 million. In just two days, the company accumulated a total of $270.16 million worth of Bitcoin. Data from blockchain tracker Arkham Intelligence shows that Marathon Digital’s crypto wallet currently holds a total of 19,965 BTC worth $2 billion.
Marathon Digital, which was originally founded in 2010 under a different name as a firm focused on patents related to encryption, transitioned into Bitcoin mining in 2017. As of the time of writing, Bitcoin is trading for $100,100, with a slight increase on the day. To stay updated on the latest news and developments in the cryptocurrency space, readers are encouraged to subscribe for email alerts and follow the company on social media platforms like X, Facebook, and Telegram.
In conclusion, Marathon Digital’s recent accumulation of Bitcoin following a convertible note offer showcases the company’s continued interest and investment in the crypto space. With a total of $270.16 million worth of Bitcoin acquired in just two days, Marathon Digital’s crypto wallet now holds a significant amount of the digital asset. As Bitcoin continues to show resilience in the market, trading at $100,100 at the time of writing, it is clear that Marathon Digital sees value in holding and investing in this popular cryptocurrency. By staying informed and connected through email alerts and social media, readers can keep up to date with the latest developments in the cryptocurrency industry.
