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Form 8-K · Current Report · Filed 2024-08-14

Marathon Digital Holdings Completes $300M Convertible Notes Offering

Marathon Digital Holdings, Inc. completed its $300 million offering of 2.125% convertible senior notes due 2031 on August 14, 2024. The net proceeds from the sale were approximately $292.5 million, which the company used to acquire approximately 4,144 bitcoins at an average price of $59,500 per bitcoin. The notes are convertible into the company's common stock at an initial conversion rate of 52.9451 shares per $1,000 principal amount. The offering was made in reliance on Rule 144A under the Securities Act of 1933.

Filer
Mara Holdings Inc. MARA · NASDAQ
Filed
Accession
0001493152-24-032433
CIK
0001507605
Signal
Medium impactFinancial Services

Items reported

Item 1.01

Entry into a Material Definitive Agreement

Financial Instrument Agreement
Item 2.03

Creation of a Direct Financial Obligation

New Debt Issued
Item 3.02

Unregistered Sales of Equity Securities

Private Placement
Item 8.01

Other Events

No viable tag
Item 9.01

Financial Statements and Exhibits

No viable tag

Market reaction

Close before filing

$15.49

Next session

-0.2%

Since filing

-27.0%

Latest close

$11.30

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from MARA reporting the same item, with the next session's move:

Exhibits (2)

About Mara Holdings Inc.

Mara Holdings Inc. is a company that primarily specializes in the financial and technological sectors, focusing on innovative endeavors within its portfolio. As part of its core business model, Mara Holdings engages in cryptocurrency mining and digital asset management, which positions it in the rapidly evolving digital finance industry. Its operations include mining of major cryptocurrencies, which involves the validation of digital transactions and adding them to a blockchain ledger, a process crucial to the functionality and security of cryptocurrency networks. The influence of Mara Holdings Inc. extends across multiple sectors, including financial technology and digital currencies, drawing considerable interest as industries adopt blockchain technology and decentralized finance solutions. The company's participation in these markets underscores its role as a proactive entity capitalizing on digital transformation trends. In the context of market significance, Mara Holdings Inc. represents a blend of traditional financial management with the innovative potential of blockchain technology. Its activities not only contribute to the digital asset ecosystem but also highlight the increasing importance of integrating technology-driven financial solutions in today’s economy.

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