Marathon Digital Holdings, one of the largest American mining corporations, will attract debt financing to replenish the balance sheet of the BTC and purchase ASICs.
In a press release, the company announced the imminent issuance of “$500,000,000 convertible notes” expiring on December 1, 2026. The bonds will accrue interest semiannually. The funds received are planned to be used to replenish the reserves of the VTS company and purchase new mining equipment.
Shares of the American company listed on Nasdaq grew by 230% in 2021. The company had 7,453 BTC ($490 million) in its reserve assets at the end of last month.
In December 2020, the company acquired a record 70,000 ASICs. In the summer, the company announced that acquired another 30,000 S19d Pro Antminers from Bitmain.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Mining company CEO disappears with $35 million
According to Newsweek, Le Minh Tam, the CEO of Vietnamese cryptocurrency mining startup Sky Mining, disappeared on July 26, taking with him $35 million in client investments.
Holic H22 - New Bitcoin Asic miner at 22TH/s
Despite the cooling of the market after the hot 2017, when mining equipment was in great demand among the population, competition in the Bitcoin ASIC miners market continues to grow. Recently, Japanese GMO has made a serious bid with miner B3 and Canaan, and now a new player, the Greek mining company Holic Technologies, is trying to displace the Chinese companies dominating the market.
