Ethereum

Bitcoin

<ul>
 <li>The original purchasers had the opportunity to acquire an extra $50 million worth of notes.</li>
 <li>Marathon Digital bought 4,144 Bitcoins, at an average price of $59,500 per BTC.</li>
</ul>
<a href="https://thenewscrypto.com/bitcoin-miner-marathon-digital-reports-199-7-million-q2-loss/" target="_blank" rel="noopener noreferrer nofollow">Marathon Digital</a>, a Bitcoin miner, has announced that it has spent $249 million in cash to acquire 4,144 Bitcoins. Within two days of the convertible notes being oversubscribed earlier this week, Bitcoin was purchased.
The original purchasers had the opportunity to acquire an extra $50 million worth of notes within 13 days of the first issuance date. Bringing the total amount of the notes offered in the offering to $300 million. On August 13, Marathon completely exercised the option, and on August 14, the transaction was finalized.
<h3 class="wp-block-heading" id="h-strategic-acquisition">Strategic Acquisition</h3>
Moreover, from August 12, 2024, to August 14, 2024, Marathon Digital bought 4,144 <a href="https://thenewscrypto.com/us-spot-bitcoin-etfs-end-two-day-inflow-streak-amid-btc-price-dip/" target="_blank" rel="noopener noreferrer nofollow">Bitcoins</a>, at an average price of $59,500 per BTC, according to the press statement.
With semi-annual arrears due beginning March 1, 2025, the Bitcoin miner’s $300 million convertible notes are unsecured senior liabilities. With an interest rate of 2.125% per year. There will be a maturity date for the convertible notes of September 1, 2031.
Strategic Bitcoin purchases are nothing new for Marathon. Still recorded on MARA’s books now are the $150 million worth of Bitcoins that the firm bought back in 2021.
Their recent acquisition of $100 million worth of Bitcoin from the open market has also made them the second-largest corporate holder of Bitcoin, behind only MicroStrategy. When adding together all of the Bitcoins that have been mined, Marathon Digital has 25,000 BTC in its possession.
There has been selling pressure on the Bitcoin price even if US <a href="https://www.investopedia.com/terms/c/consumerpriceindex.asp" rel="noopener noreferrer nofollow">CPI</a> inflation has cooled. At the time of writing, Bitcoin is trading at $59,510, down 0.15% in the last 24 hours as per data from <a href="https://www.investopedia.com/terms/c/consumerpriceindex.asp" target="_blank" rel="noopener noreferrer nofollow">CMC</a>.
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Marathon Digital Boosts Holdings by Acquiring 4,144 BTC Worth $249M

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