**Marathon Digital Buys $249M in Bitcoin After Raising $300M**

Marathon Digital has made headlines by purchasing $249 million worth of Bitcoin, using funds from a recent $300 million convertible senior note offering. The miner acquired around 4,144 BTC at an average price of $59,500, boosting its Bitcoin reserve to over 25,000 BTC.

- **Funding Details:** Marathon raised $292.5 million from the note sale, which carries a 2.125% annual interest rate and is convertible into cash or stock.

- **Future Plans:** The remaining funds will be used for more Bitcoin purchases and general corporate purposes, including potential acquisitions.

- **Market Performance:** Despite the purchase, Marathon shares fell 2.26% to $15.14, and saw a slight 0.13% drop in after-hours trading.

- **Challenges:** The company missed Q2 earnings estimates and faces profitability issues due to record-low mining rewards post-Bitcoin halving.

Marathon remains committed to its "hodl strategy," viewing Bitcoin as a premier strategic asset.