Share this article
Marathon Digital to Raise $500M in Convertible Notes
The bitcoin miner will use the proceeds to buy bitcoin and bitcoin miners.
By Aoyon Ashraf
Updated May 11, 2023, 7:06 p.m. Published Nov 15, 2021, 1:23 p.m.
Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, will raise $500 million through a convertible senior notes offering, due in 2026.
- The notes will be unsecured and to be offered to institutional investors, according to a statement.
- The pricing as well as interest and conversion rates for the notes will be determined at a later date.
- The company said it will use the proceeds for general corporate purposes, which includes acquisition of bitcoin or bitcoin mining computers.
- On Nov. 10, Marathon beat its third-quarter earnings estimates but missed on revenue, while increasing mined bitcoin 91% from the previous quarter.
- On Nov. 8, Argo Blockchain (ARBK), the London-based cryptocurrency miner, said it has filed to raise up to $57.5 million in senior notes that would be due in November 2026, with an interest rate of 8.75%. Argo also said it might use some of those proceeds for purchasing mining equipment.
- The shares of Marathon were down slightly in pre-market trading on Monday, while bitcoin prices were up slightly.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bhutan Debuts TER Gold-Backed Token on Solana
The Himalayan kingdom introduced TER, a Solana-based token backed by physical gold and issued through Gelephu Mindfulness City.
What to know:
- Bhutan introduced TER, a sovereign-supported gold-backed token issued via Gelephu Mindfulness City and custodied by DK Bank, offering a blockchain-based representation of physical gold.
- The token runs on Solana, giving international investors digital portability and on-chain transparency while mimicking the experience of traditional gold purchases.
- TER follows Kyrgyzstan’s USDKG launch, highlighting a growing trend of smaller nations issuing asset-backed digital currencies tied to audited reserves as part of broader economic and technological strategies.
Top Stories
