Bitcoin Miner Marathon to Sell Notes to Buy More Bitcoin
- Firm is offering $250 million in senior convertible notes
- Miner has adopted a strategy of investing in Bitcoin
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Bitcoin miner Marathon Digital Holdings Inc. said it will sell $250 million of convertible senior notes and use the proceeds to buy more of the cryptocurrency.
The largest US miner announced in July that it was adopting a strategy similar to the one employed by MicroStrategy Inc., which has been accumulating the cryptocurrency for several years in part on a bet the price will rise.