Bitcoin has climbed back above $92,000 after dropping to $80,000 in February, with the rally coinciding with Trump’s crypto strategic reserve announcement and potential SEC easing of Coinbase legal action.
Marathon Digital said that it would offer these convertible notes to qualified institutional buyers with an aggregate principal amount of 2.125% with maturity in 2031.
In Q2 2024, the company’s adjusted EBITDA swung into a loss of $85.1 million from a profit of $35.8 million in the previous year.
Recent reports demonstrate that Marathon Digital has been eager to expand its business.
Marathon Digital announced that the gains on the sale of Bitcoin were $23.4 million in Q2 2023.
Crypto stocks, including MARA, RIOT, and COIN, all suffered drawdowns between Thursday and Friday as the price of Bitcoin retraced.
Marathon Digital has also revealed the nature of its exposure to the now-defunct crypto-focused Silvergate Bank.
Marathon Digital noted that the lower production resulted from the previously announced exit from the company’s facility in Hardin, MT, and delays in the initial energization of the King Mountain facility in McCamey, TX.
Marathon Digital beat out sales estimates for Q1 2022, but reported an overall loss due to a $19.6 million impairment charge.
Overall, the Q4 report Marathon Digital published revealed considerable improvement over the same quarter from the year before.