Share this article
Marathon Digital Secures $100M Revolving Line of Credit With Silvergate Bank
The bitcoin mining firm said the loan will be used for operations and to acquire new mining equipment.
Updated May 11, 2023, 5:50 p.m. Published Oct 4, 2021, 1:26 p.m.
Marathon Digital Holdings (Nasdaq: MARA) has secured a $100 million revolving line of credit with Silvergate Bank in bitcoin and U.S. dollars.
- The loan, which was secured on Friday, will be used to fund the company’s bitcoin mining operations and to acquire new equipment.
- It will be available for one year and can be renewed annually by agreement between Silvergate Bank and Marathon.
- Marathon Digital said it has received 26,960 top-tier ASIC mining machines from Bitmain so far this year, with an additional 8,459 ASIC miners currently in transit. Its current mining fleet stands at 25,272 active miners producing approximately 2.7 EH/s.
- Marathon Digital also published its latest bitcoin production and miner installation updates on Monday. In the third quarter, Marathon increased its bitcoin production by 91% quarter-over-quarter to 1,252 bitcoin, growing its total bitcoin holdings to approximately 7,035 with a fair market value in September of approximately $336.3 million.
- Marathon shares have increased more than 200% year to date as the price of bitcoin has risen dramatically.
Read more: Marathon Digital to Buy $121M of Mining Machines From Bitmain
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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
