$BTC Highlights
Marathon Digital (MARA) successfully closed its $850 million convertible note for accelerating Bitcoin buying.
Bitcoin reached a new all-time high, with analysts eying $125,000 next.
Institutional investors have acquired 683,000 BTC this year including purchases by Bitcoin ETFs, MSTR, MARA, etc.
Standard Chartered predicts that Bitcoin's price could hit $200,000 by the end of 2025.
Bitcoin miner Marathon Digital (NASDAQ: MARA) has recently completed its $850 million convertible note offering at 0% interest, the proceeds of which shall go for additional Bitcoin purchases. The announcement comes just when BTC’s price smashed past the $100K milestone earlier today hitting a new all-time high. Speculations have started pouring in for BTC price to hit $125,000 by the year-end as part of the Christmas rally.
Marathon Digital Closes $850 Million Offering
Bitcoin miner Marathon Digital (NASDAQ: MARA) announced the closure of its $850 million convertible note offering at 0.0% interest, on Tuesday, December 4. Apart from the principal notes, the company also sold an additional $150 million option granted to initial purchasers for purchase within a 13-day period following the issuance.
The notes were sold privately to qualified institutional buyers. MARA Holdings stated that it will use approximately $48 million of the proceeds to repurchase roughly $51 million in existing convertible notes due 2026. The remaining proceeds will go towards the purchase of BTC and other operational expenses.
The development comes soon after the Bitcoin miner announced accelerating its Bitcoin buying plan. Drawing a leaf from the playbook of MicroStrategy, Marathon Digital is making similar moves of fundraising to source its BTC purchases.
The MARA Stock has seen strong buying interest ever since Donald Trump’s victory last month. On the monthly chart, the stock price is up by a massive 59%. Following yesterday’s investment, the stock has gained an additional 6% in the pre-market trading session on Thursday, eyeing a move above $27.
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