[Marathon Digital follows MicroStrategy and borrows to buy Bitcoin to cope with mining challenges] Golden Finance reported that Bitcoin mining company Marathon Digital recently sold $300 million in convertible notes to purchase 4,144 Bitcoins, following MicroStrategy's strategy. MicroStrategy's Executive Chairman Michael Saylor borrowed money to buy Bitcoin on a large scale, making his company one of the world's largest Bitcoin holders. Marathon Digital's move reflects the plight of the mining industry: mining profits have fallen sharply, and mining companies have to rely on other means to maintain operations. Due to the halving of Bitcoin and the increase in mining difficulty, Marathon Digital has chosen a "complete HODL" strategy, retaining all Bitcoins obtained from mining and purchasing more through debt financing. This strategy aims to increase the company's reserves by holding Bitcoin and opportunistic purchases at market lows, expecting higher returns on investment from future Bitcoin price increases. Industry experts believe that as Bitcoin mining profit margins decline and pressure on mining companies increases, debt financing may revive across the industry. Marathon's strategy is seen as a pragmatic choice to cope with current industry challenges, while also reflecting its confidence in the long-term value of Bitcoin.
