Mining Giant Marathon Digital Raises Capital To Buy More Bitcoin As $5,910,000,000 BTC Treasury Swells

The Bitcoin ( BTC ) mining company MARA just completed an upsized offering of convertible senior notes on Friday, July 25th. In a statement, the firm says it sold notes worth $950 million in principal amount, generating net proceeds of approximately $940.5 million. The 0% notes were sold to institutional buyers in a private offering and will be due in 2032. Mara says it used $18.3 million of the proceeds to repurchase approximately $19.4 million in aggregate principal amount of its 1% convertible senior notes due 2026. It also allocated about $36.9 million to cover the cost of capped call transactions with the initial purchasers of the notes and other financial institutions. Mara says it will use some of the newly raised capital to purchase more Bitcoin as the Florida-based company builds a strategic crypto reserve to strengthen its financial position. “MARA expects to use the remainder of the net proceeds to acquire additional Bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.” According to the Bitcoin holdings tracker BitcoinTreasuries.net, Mara is currently the second-leading public Bitcoin treasury company with 50,000 BTC worth $5.92 billion. American software company Strategy is still the biggest with 628,791 BTC worth $74.45 billion. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Mining Giant Marathon Digital Raises Capital To Buy More Bitcoin As $5,910,000,000 BTC Treasury Swells appeared first on The Daily Hodl .