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Bitcoin Miner Marathon Digital Raises $1B to Buy More BTC


Nov, 21, 2024
2 min read
by Joshua Ramos
for Watcher.Guru
Bitcoin Miner Marathon Digital Raises $1B to Buy More BTC

Embracing an ongoing trend within the market, Bitcoin miner Marathon Digital has announced it has raised $1 billion to buy more Bitcoin. Indeed, the miner took to X (formerly Twitter) to share that they have completed the “largest convertible note offering ever amongst BTC miners.”

The move comes a day after Bitcoin surged to a $98,000 all-time high. Moreover, the asset has surged in prominence, benefiting from the ongoing 2024 US presidential election momentum. Most importantly, experts aren’t expecting the leading crypto’s bull run to end any time soon.

Also Read: Can Bitcoin Reach $100,000 Before Thanksgiving?

Marathon Digital Raises $1 Billion as it Looks to Buy More Bitcoin

It has proven to be a game-changing month for Bitcoin. Although 2024 had already been one for the history books, the leading cryptocurrency has continued to set landmark records in consecutive weeks. Just this week, the token set two all-time highs, culminating in a $98,000 price on Wednesday.

That has led to increased interest from companies as they look to gain exposure to the asset. Amid the success of MicroStrategy’s (MSTR) Bitcoin accumulation plan, there are many who are following suit. Among them is Bitcoin miner Marathon Digital, which has raised $1 billion to buy more BTC.

Bitcoin on a rocket

Also Read: Bitcoin ETFs Officially Surpass $100 Billion in Assets

In a press release, the miner announced the completion of a $1 billion offering of 0% convertible senior notes that will come due in 2030. After discounts and commissions were accounted for, net proceeds from the sale were $980 million, the miner said. Additionally, the confirmed net proceeds will be used for Bitcoin purchases and corporate purposes.

The decision aligns with Bitcoin’s increasing relevancy in the United States. Donald Trump represents the first truly pro-crypto candidate in US history. Moreover, he has discussed the creation of the first-ever crypto role in the White House. Additionally, he is expected to create the country’s first strategic Bitcoin reserve.

Read the article at Watcher.Guru

Read More

When Will Bitcoin and Altcoins Recover? Analyst Gives Date for Relief: “Dead Cat Bounce…”

When Will Bitcoin and Altcoins Recover? Analyst Gives Date for Relief: “Dead Cat Bounce…”

When will relief come for Bitcoin and altcoins, which have been declining along with ...
Apr, 07, 2025
by Bitcoin Sistemi
Michael Saylor holds off on Bitcoin buys as price falls below $87K

Michael Saylor holds off on Bitcoin buys as price falls below $87K

Michael Saylor's Strategy, the largest corporate holder of Bitcoin globally, has repo...
Apr, 07, 2025
2 min read
by CryptoPolitan
MainNewsBitcoin Mine...

Bitcoin Miner Marathon Digital Raises $1B to Buy More BTC


Nov, 21, 2024
2 min read
by Joshua Ramos
for Watcher.Guru
Bitcoin Miner Marathon Digital Raises $1B to Buy More BTC

Embracing an ongoing trend within the market, Bitcoin miner Marathon Digital has announced it has raised $1 billion to buy more Bitcoin. Indeed, the miner took to X (formerly Twitter) to share that they have completed the “largest convertible note offering ever amongst BTC miners.”

The move comes a day after Bitcoin surged to a $98,000 all-time high. Moreover, the asset has surged in prominence, benefiting from the ongoing 2024 US presidential election momentum. Most importantly, experts aren’t expecting the leading crypto’s bull run to end any time soon.

Also Read: Can Bitcoin Reach $100,000 Before Thanksgiving?

Marathon Digital Raises $1 Billion as it Looks to Buy More Bitcoin

It has proven to be a game-changing month for Bitcoin. Although 2024 had already been one for the history books, the leading cryptocurrency has continued to set landmark records in consecutive weeks. Just this week, the token set two all-time highs, culminating in a $98,000 price on Wednesday.

That has led to increased interest from companies as they look to gain exposure to the asset. Amid the success of MicroStrategy’s (MSTR) Bitcoin accumulation plan, there are many who are following suit. Among them is Bitcoin miner Marathon Digital, which has raised $1 billion to buy more BTC.

Bitcoin on a rocket

Also Read: Bitcoin ETFs Officially Surpass $100 Billion in Assets

In a press release, the miner announced the completion of a $1 billion offering of 0% convertible senior notes that will come due in 2030. After discounts and commissions were accounted for, net proceeds from the sale were $980 million, the miner said. Additionally, the confirmed net proceeds will be used for Bitcoin purchases and corporate purposes.

The decision aligns with Bitcoin’s increasing relevancy in the United States. Donald Trump represents the first truly pro-crypto candidate in US history. Moreover, he has discussed the creation of the first-ever crypto role in the White House. Additionally, he is expected to create the country’s first strategic Bitcoin reserve.

Read the article at Watcher.Guru

Read More

When Will Bitcoin and Altcoins Recover? Analyst Gives Date for Relief: “Dead Cat Bounce…”

When Will Bitcoin and Altcoins Recover? Analyst Gives Date for Relief: “Dead Cat Bounce…”

When will relief come for Bitcoin and altcoins, which have been declining along with ...
Apr, 07, 2025
by Bitcoin Sistemi
Michael Saylor holds off on Bitcoin buys as price falls below $87K

Michael Saylor holds off on Bitcoin buys as price falls below $87K

Michael Saylor's Strategy, the largest corporate holder of Bitcoin globally, has repo...
Apr, 07, 2025
2 min read
by CryptoPolitan