📜Cryptocurrency mining company MARA issues $700 million convertible bonds, multi-faceted strategic layout
Cryptocurrency mining company MARA (formerly known as Marathon Digital) announced the issuance of $700 million in convertible bonds, intending to use the funds to purchase more Bitcoin and to buy back some of their old bonds maturing in 2026.
MARA has also promised that the company may give initial bond purchasers the opportunity to purchase an additional $105 million in convertible bonds within 13 days after the bond issuance.
MARA also plans to privately trade $50 million to buy back some of the 2026 convertible notes, with the remaining funds used to buy Bitcoin or for other purposes such as operating capital, acquisitions, business expansion, or debt repayment.
The bonds issued are set to mature in 2030 and can be converted into cash, stock, or a combination of both. This strategy could help MARA improve its financial situation by replacing short-term debt with long-term debt, while continuing to invest in digital assets.
Just a week ago, MARA also acquired 6,474 Bitcoins from their $1 billion convertible bonds at a 0% interest rate. They also plan to use the remaining $160 million to buy more Bitcoin during market downturns.
MARA has called on U.S. policymakers to take the lead in Bitcoin mining, viewing Bitcoin as a key asset for national security and financial sovereignty. They believe that controlling Bitcoin's block space and hash rate can ensure secure transactions and prevent manipulation by "hostile" nations.
MARA suggests that the U.S. develop domestic Bitcoin mining infrastructure, prioritize the use of renewable energy, and reduce dependence on foreign ASIC chips. This not only strengthens the economy but also promotes energy network development and creates high-tech job opportunities.
Recently, cryptocurrency mining company MARA has been active, from issuing convertible bonds to repurchasing old bonds, buying Bitcoin, and calling on U.S. policymakers to focus on Bitcoin mining. These actions not only demonstrate the company's grasp of current market opportunities but also reflect its thoughtful consideration and strategic layout for the future development of the industry.
Through these initiatives, MARA may be shaping its own fate while also influencing the development direction of the entire cryptocurrency industry.
