Marathon Digital to Raise $250 Million for Bitcoin Purchases

The mining giant plans a private offering of convertible notes to bolster its cryptocurrency holdings.

Marathon Digital aims to raise $250 million through convertible senior notes maturing in 2031.
The funds will be used to acquire more Bitcoin and for general corporate purposes.
Industry experts warn of potential risks, comparing the strategy to MicroStrategy's approach.
Marathon's shares dropped following the announcement, reflecting investor concerns.
The company currently holds over 20,000 Bitcoin, making it one of the largest holders among public companies.