Marathon plans to spend $ 500 million out of convertible senior notes to buy Bitcoin and mining rigs-mining Bitcoin messages
Marathon plans to spend $ 500 million out of convertible senior notes to buy Bitcoin and mining rigs-mining Bitcoin messages
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On Monday, the Bitcoin mining company Marathon Digital Holdings announced that the company will apply $ 500 million from convertible senior notes to pacify more "Bitcoin or Bitcoin mining machines".
publicly listed mining operation to procure $ 500 million from the debt markets for the purchase of Bitcoin and ASIC devices
marathon ( Nasdaq: Mara ) is one of the largest US mining companies on November 15 that the company announced it Plant to use the debt markets for "general corporate purposes, including the acquisition of Bitcoin or Bitcoin mining machines". The news comes after a significant growth in the course of 2021 and at the end of October Marathon announced that he dismantled 417 Bitcoin ( btc ). With bitcoins worth over $ 457 million in its coffers, the 417 btc was significantly higher than in the previous month.
"As in the previous months, our Bitcoin production was affected by maintenance-related failures in the power plant in Hardin, MT, and the increase in the hash rate of the entire network," said Marathon CEO Fred Thiel. "However, since the deliveries of our previously bought miners speed up in the coming months, we continue to expect that our Bitcoin production will become more consistent with increasing scaling," added the marathon manager.
In a press release sent to Bitcoin.com News, the company announced on Monday that it is plans to "buy back, buy back, redeem or convert", according to the press release from Marathon.
"Marathon intends to use the net proceeds from the offer for general corporate purposes, including the acquisition of Bitcoin or Bitcoin mining machines," said the company.
marathon stocks have increased by more than 230% in 6 months-after a controversy, Bitcoin mining company has set the OFAC transaction filtering in May
The shares of the US company noted on the Nasdaq have recently developed well and Marathon holds btc MINING competitor Argo, Hut8, Riot Blockchain and Bitfarms. Six months ago, the Mara shares were traded on May 18 for $ 22.99, and today the shares are exchanged for $ 75.92.
Bitcoin.com-Nachrichten target = "_ blank" class = "lar-automated-link" href = "https://markets.bitcoin.com/crypto/btc" rel = "noopener"> btc for a reserve reactiva at the end of January after the record -ant-go acquisition of 70,000 ASIC-Bitcoin miners in December 2020. Target = "_ blank" href = "https://news.bitcoin.com/marathon-mines-first-ofac- compliant-bitcoin-block/" Rel = "noopener"> controversies this year when the enterprise mining company has broken down its first OFAC-compliant block. This meant that Marathon filtered transactions at this time to meet the Sanction Guidelines of the Office of Foreign Assets Control (OFAC).
Two months later the company announced bought And after the publication of the Bitcoin production and mining operation in July it became known that Fidelity Investments has 7.4% of the shares in the marathon.
The latest financing proposal for the leverage of convertible bonds shows that the company continues to believe in the exponential growth of the Bitcoin mining industry. At the time of printing, Bitcoin's Hashrate was once again approaches the all-time high and the current Hashrate on November 15th is unbelievable 181 exahaSh per second (eh/s). .
What do you think that Marathon uses the debt markets to raise $ 500 million to acquire Bitcoin and Bitcoin mining rigs? Let us know your opinion on this topic in the comments below.
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