What's Going On With Bitcoin Mining Stock Marathon Digital Monday?
Portfolio Pulse from Adam Eckert
Marathon Digital Holdings Inc (NASDAQ:MARA) shares are trading lower after the company announced a proposed private offering of $250 million worth of convertible senior notes due 2031. The notes will be unsecured, senior obligations and bear interest payable semi-annually. Marathon Digital intends to use the proceeds to acquire additional Bitcoin and for general corporate purposes.
August 12, 2024 | 1:25 pm
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Marathon Digital Holdings Inc (NASDAQ:MARA) shares fell 5.16% after the company announced a $250 million private offering of convertible senior notes due 2031. The proceeds will be used to acquire additional Bitcoin and for general corporate purposes.
The announcement of a $250 million private offering of convertible senior notes has led to a 5.16% drop in Marathon Digital's stock price. Investors may be concerned about the dilution of shares and the company's increased debt obligations.
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