MicroStrategy purchased an additional 51,780 Bitcoins for $4.6 billion; Crypto mining giant Marathon plans $700m convertible note to buy Bitcoin
MicroStrategy purchased 51,780 BTC for 4.6 billion at a cost of approximately $88,627. Bitcoin mining company Marathon Digital said it plans to sell $700 million of convertible notes in a private placement to fund purchases of BTC
“MicroStrategy purchased 51,780 BTC for 4.6 billion at a cost of approximately $88,627 and achieved a BTC Return of 20.4% QTD and 41.8% YTD.
As of 11/17/2024, we hold 331,200 BTC purchased at an average price of $49,874 for approximately 16.5 billion. Marathon Digital announces a $700 million private convertible note offering to fund debt repayment, Bitcoin purchases, and corporate needs.
Bitcoin mining company Marathon Digital said it plans to sell $700 million of convertible notes in a private placement to fund purchases of BTC and general corporate purposes.
In a press release on Monday, Nov. 18, the Florida-headquartered company said the notes will bear interest payable semi-annually and mature on March. 1, 2030.
Holders will have the option to convert the notes into cash, shares of Marathon stock, or a combination of both. Marathon also granted initial purchasers a 13-day option to buy an additional $105 million in notes.
