Marathon Digital, a Nasdaq-listed Bitcoin mining company, has announced plans to increase its debt offering to $1 billion, up from the initial aim of $700 million. The zero-interest senior notes will be sold privately to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The company will use a portion of the funds to acquire more Bitcoin for its treasury and to repurchase $212 million in convertible notes due in 2026.
Marathon expects to net approximately $833 million from the offering, which could increase to $980 million if buyers fully exercise their options for additional notes.
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<p>The post Marathon Digital Raises $1 Billion Debt Offering for Bitcoin Mining Expansion first appeared on CoinBuzzFeed.</p>
