According to ChainCatcher, 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 dropped sharply, and mining companies have to use other means to maintain operations.

Industry experts believe that as Bitcoin mining profit margins decline and pressure on miners increases, debt financing may revive across the industry. Marathon's strategy is seen as a pragmatic choice to deal with current industry challenges, while also reflecting its confidence in the long-term value of Bitcoin.