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Bitcoin Miner MARA Boosts BTC Buying Power With Nearly $1 Billion Raise
Bitcoin miner MARA has closed an upsized $950 million private offering to buy more of the leading cryptocurrency. The Nasdaq-listed company, formerly known as Marathon Digital, had originally said it would raise $850 million. But due to increased demand, MARA upped the amount. It raised the cash via a private sale of 0% convertible senior notes due in 2032, aimed at institutional buyers. Fort Lauderdale, Florida-based MARA is copying Strategy—formerly MicroStrategy—by using debt to buy the biggest cryptocurrency by market value. A number of firms—including crypto miners—are putting Bitcoin and other digital ... (full story)
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