On November 18, 2024, Marathon Digital Holdings, Inc. (Marathon Digital), a leader in digital asset compute, announced its intention to offer $700 million in convertible senior notes due 2030 to qualified institutional buyers, with an option for purchasers to acquire an additional $105 million within a 13-day period. The same day, the company also announced the pricing of an upsized private offering of $850 million in convertible senior notes, with the potential to increase to $1 billion if the additional purchase option is exercised. The offering is expected to close on November 20, 2024, subject to customary closing conditions. Marathon Digital estimates net proceeds of approximately $833 million, or $980 million if the additional notes are fully purchased. The company plans to use $199 million of the proceeds to repurchase $212 million of...Show More

On November 18, 2024, Marathon Digital Holdings, Inc. (Marathon Digital), a leader in digital asset compute, announced its intention to offer $700 million in convertible senior notes due 2030 to qualified institutional buyers, with an option for purchasers to acquire an additional $105 million within a 13-day period. The same day, the company also announced the pricing of an upsized private offering of $850 million in convertible senior notes, with the potential to increase to $1 billion if the additional purchase option is exercised. The offering is expected to close on November 20, 2024, subject to customary closing conditions. Marathon Digital estimates net proceeds of approximately $833 million, or $980 million if the additional notes are fully purchased. The company plans to use $199 million of the proceeds to repurchase $212 million of its existing convertible notes due 2026 and allocate the remainder to acquiring more bitcoin and for general corporate purposes. The notes will be sold in a private offering under Rule 144A of the Securities Act of 1933. This announcement was made in a press release filed with the U.S. Securities and Exchange Commission and is not an offer to sell or a solicitation of an offer to buy any securities.