Marathon Digital Expands Convertible Notes Offering to $850M

The company aims to repurchase debt and increase its Bitcoin holdings as investor interest surges.

Marathon Digital Holdings upsized its convertible notes offering from $700 million to $850 million due to high investor demand.
The company plans to use $199 million of the proceeds to repurchase $212 million of its existing 2026 convertible notes.
Remaining funds will be allocated for acquiring Bitcoin and other corporate initiatives, including asset expansion.
The notes, maturing in 2030, offer conversion into cash, Marathon stock, or a combination, with an initial conversion price set at a 42.5% premium over current stock prices.
Marathon holds 27,562 Bitcoin and is pursuing aggressive growth and expansion goals in both U.S. and international markets.