Marathon Digital has successfully raised $1.925 billion through the issuance of 0% convertible notes during November and December. The company strategically used these funds to expand its Bitcoin holdings, acquiring 15,574 BTC for approximately $1.53 billion, valued around $98,529 each. This significant investment underscores the firm’s confidence in the long-term value of cryptocurrencies.

Furthermore, Marathon has utilized about $263 million to repurchase a portion of its existing convertible notes that were due in 2026. This move not only optimizes its debt but also reflects a robust financial strategy, enhancing investor confidence. With the remaining funds, Marathon aims to further increase its Bitcoin portfolio, showcasing its commitment to leveraging digital assets.

As of December 18, 2024, Marathon’s total Bitcoin holdings amount to 44,394 BTC, now worth an impressive $4.45 billion based on the current spot price of $100,151 per Bitcoin. The company has reported a quarterly yield of 22.5% and an annual yield of 60.9%, positioning itself as a leading player in the cryptocurrency market with substantial growth potential.