Marathon Digital, a Bitcoin mining company listed on Nasdaq, has increased its debt offering to $1 billion. The zero-interest senior notes will be sold privately to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The company initially aimed to raise $700 million but increased the offering to $980 million due to investor demand.
These unsecured senior notes come with no regular interest and will mature on March 1, 2030, unless redeemed, converted, or repurchased earlier. A portion of the funds will be used to acquire more Bitcoin for the company’s treasury, and Marathon also plans to repurchase $212 million in convertible notes due in 2026.
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