ChainCatcher news, according to official sources, the Bitcoin-listed mining company Marathon Digital Holdings (MARA) announced plans to issue a total of $700 million in convertible senior notes to qualified institutional investors, with a potential additional issuance of $105 million. The notes will mature on March 1, 2030, and will pay interest semi-annually starting March 1, 2025.
According to the announcement, MARA plans to use no more than $200 million of the raised funds to repurchase its existing convertible bonds maturing in 2026, with the remaining funds primarily intended for increasing Bitcoin holdings, as well as for general corporate purposes, including working capital, strategic acquisitions, existing asset expansion, and debt repayment.