Marathon Digital to Raise $500M in Convertible Notes

Marathon Digital to Raise 0M in Convertible Notes
Marathon Digital, one of the largest publicly traded bitcoin miners, will raise $500 million through a convertible senior notes offering, due in 2026.The notes will be unsecured and to be offered to institutional investors, according to a statement.The pricing as well as interest and conversion rates for the notes will be determined at a later date.The company said it will use the proceeds for general corporate purposes, which includes acquisition of bitcoin or bitcoin mining computers.On Nov. 10, Marathon beat its third-quarter earnings estimates but missed on revenue, while increasing mined bitcoin 91% from the previous quarter.On Nov. 8, Argo…