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On August 12, Marathon Digital Holdings, one of the largest Bitcoin mining companies in the world, announced the issuance of $250 million in convertible bonds to purchase additional Bitcoin. These bonds will be privately offered to qualified institutional investors.
The convertible bonds have a maturity date in 2031, allowing investors to receive a fixed interest rate and convert the bonds into shares of Marathon Digital Holdings if market conditions are favorable. The issuance is also subject to market conditions, regulatory approval, and other financial factors.
Marathon Digital Holdings, a leading company in Bitcoin mining, is issuing the bonds to raise capital for expanding its operations and to demonstrate confidence in the future growth of the cryptocurrency market.
According to Allinstation, in July, Marathon Digital Holdings invested an additional $100 million in Bitcoin, turning BTC into a strategic reserve asset. The company has decided to hold all its Bitcoin despite the potential for the 2024 halving event to reduce block rewards and force other mining companies to sell BTC.
