According to ChainCatcher, according to the official announcement, Bitcoin mining company Marathon Digital Holdings, Inc. (NASDAQ: MARA) announced plans to issue convertible senior notes totaling $250 million, subject to market conditions, with target buyers being qualified institutional investors. The notes will mature in 2031, with interest paid twice a year.

MARA plans to use the funds raised primarily for the purchase of Bitcoin and general corporate purposes, including working capital, strategic acquisitions, asset expansion, and debt repayment. The note issuance was not registered under U.S. securities laws or other jurisdictions and was conducted only through private placement.