Marathon

Marathon Digital Holdings announced the closing of its offering of 2.125% convertible senior notes due 2031. The company used the proceeds from the sale to acquire 4,144 BTC for $249 million, at an average price of $59,000 per BTC.  The latest purchase increased the company’s BTC reserves to 25,000 BTC and came after CEO and chairman Fred Thiel stated the company was adopting a HODL strategy for the asset.  Marathon Digital’s Latest BTC Purchase  According to a statement by Marathon…

The post Bitcoin Rallies as Marathon Digital Announces $250M Purchase Plan appeared first on Coinpedia Fintech News After notable selling pressure during Asian Trading hours, the cryptocurrency market is recovering. This recovery comes following the announcement by Marathon Digital, the world’s largest Bitcoin miner, of a $250 million Bitcoin purchase. Marathon Digital’s recent Bitcoin purchase announcement On August 12, 2024, Marathon Digital announced that they are planning to raise $250 million of funds by issuing special debt called convertible senior…

On August 12, Marathon Digital Holdings announced a $250 million fundraising effort by issuing convertible senior notes. The company plans to use the proceeds to expand its Bitcoin holdings, signaling its continued commitment to cryptocurrency investment. Stock Market Response Lukewarm as Marathon Digital Unveils Bold Bitcoin Strategy In its official statement, the Nevada-based Bitcoin mining firm revealed it will issue notes as unsecured senior obligations. These notes will bear interest and be payable semi-annually starting on March 1, 2025, and…

Marathon Digital (MARA), one of the largest Bitcoin (BTC) mining companies, has recently announced a substantial acquisition of $100 million worth of Bitcoin.  This significant purchase, detailed in a recent company statement, has increased Marathon’s Bitcoin holdings to over $1 billion at current prices, showing the company’s confidence in the future price appreciation of the largest cryptocurrency on the market. Is Bitcoin The ‘World’s Best Treasury Reserve Asset’? According to the company’s announcement on Thursday, by adopting a “HODL” strategy,…

The post Crypto Shockwave: Marathon Digital Buys $100M in Bitcoin – Here’s Why! appeared first on Coinpedia Fintech News Marathon Digital has purchased $100 million worth of Bitcoin. They now hold a total of over 20,000 BTC, worth almost $1.3 billion. This is a huge shift in their strategy. Let’s understand why this is big news for the crypto world. Marathon Digital Bets Big on Bitcoin Marathon Digital recently bought $100 million worth of Bitcoin. The company now holds more…

The post Marathon Digital Acquires $100M BTC, Declares Shift To HODL Strategy appeared first on Coinpedia Fintech News In a significant move, Marathon Digital has announced a $100 million Bitcoin purchase, bringing its total holdings to over 20,000 BTC. The company has also declared a shift to a full HODL (Hold On for Dear Life) strategy for its Bitcoin treasury policy, effective immediately. Under this new approach, they will retain all Bitcoin mined through its operations and plans to make…

Marathon Digital Holdings has been fined $138 million for breaching a non-disclosure and non-circumvention agreement by using a proprietary growth strategy without compensating its developer, Michael Ho. The Allegations Marathon Digital Holdings, a major entity in the Bitcoin mining sector, has been hit with a substantial $138 million fine. This decision came after a unanimous jury verdict found the company guilty of breaching a non-disclosure and non-circumvention agreement. Michael Ho, co-founder of US Bitcoin Corp and chief strategy officer at…

Marathon Digital, a Bitcoin mining firm, signed an $80 million agreement with Kenya’s Ministry of Energy and Petroleum to boost the country’s renewable energy infrastructure. Market observers explained that the partnership supports Marathon’s strategy to diversify its operations as mining difficulty increases. Marathon to Build Green Data Centers in Kenya Marathon Digital plans to invest over $80 million in developing renewable energy data centers. Kenya’s energy grid is approximately 80% renewable, leveraging wind, solar, hydroelectric, and geothermal sources, with geothermal…

The post Marathon Digital’s Bitcoin Mining Yields $176M Profit Surge in Q1 2024 appeared first on Coinpedia Fintech News Marathon Digital disclosed mining 2,811 bitcoins, valued at $176 million, in Q1. Net income soared 184% compared to the prior year. Amid Bitcoin’s record highs, profits surged to $337.2 million, with revenues reaching $165.2 million, witnessing an increase of 223% from Q1 2023. The company aims to energize 50 exahash of hash rate by the end of 2024, and leverage recent…