Why Is Marathon Raising $1B Without Paying Interest? The Real Bet Behind Its Bold Bitcoin Move
Posted On July 23, 2025
Bitcoin mining company Marathon Digital Holdings (NASDAQ:MARA) on Wednesday announced plans to raise up to $1 billion through a private offering of zero-coupon convertible senior notes due 2032, according to a recent SEC filing.
The offering begins at $850 million, with an option allowing initial purchasers to buy an additional $150 million in notes. Only qualified institutional buyers are eligible to participate in the transaction, according to an SEC filing.
These notes will carry no regular interest payments and may be converted into cash, MARA shares, or a combination of both, based on the investor’s preference.
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