đš Marathon Digitalâs Bold Bitcoin Move: $700M for More BTC? đš
Marathon Digital, one of the largest mining giants in the US, is doubling down on Bitcoin like never before. The company announced plans to raise a staggering $700M through zero-coupon convertible bonds, with an additional $105M option. Why? To load up on even more BTC and retire existing debt. đ€Ż
In November alone, Marathon stacked 6,474 BTC, bringing its total holdings to an eye-watering 34,794 BTC ($3.3B). And now, with this new plan, theyâre clearly signaling their ultra-bullish stance on Bitcoinâs future. đą
But hereâs the kicker: what does this mean for the market? đ Will this mega-buy trigger a supply squeeze and push BTC to new highs? Or are they simply over-leveraging in a volatile market?