Marathon Digital Holdings expands convertible bond issuance to $850 million

Marathon Digital Holdings (formerly Marathon Digital, MARA), a U.S.-based cryptocurrency mining company, has announced an expansion of its convertible bond issuance. On the 2nd (local time), Marathon Digital Holdings disclosed that it plans to increase the size of its convertible bond offering from $700 million to $850 million. The company intends to use $510 million of this amount to repurchase a portion of convertible bonds maturing in 2026. Additionally, the remaining funds are expected to be used for Bitcoin (BTC) purchases and business expansion. Meanwhile, the bonds are known to be prioritized for redemption by 2031.