Marathon Digital buys $249M Bitcoin, reserves reach 25K BTC
Marathon’s latest 4,144 Bitcoin buy comes as boss Fred Thiel last month said it was adopting a “hodl strategy” for the cryptocurrency.
Bitcoin miner Marathon Digital has purchased another $249 million worth of Bitcoin after raising $300 million from a senior note offering.
On Aug. 14, the miner said it used part of the note sale proceeds to buy around 4,144 Bitcoin (BTC) at an average price of roughly $59,500, which brought its “strategic Bitcoin reserve to over 25,000 BTC,” it added on X.
Marathon saw net proceeds of around $292.5 million for its convertible senior notes due September 2031, which bear a 2.125% annual interest rate and are convertible into cash, Marathon stock, or both.
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Author: Jesse Coghlan
