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July 28, 2025 – MARA Holdings, Inc. (NASDAQ: MARA), a leading digital energy and infrastructure company, today announced the successful closing on July 25, 2025, of its upsized offering of 0.00% convertible senior notes due 2032. The aggregate principal amount of notes sold in the offering reached $950 million, marking a significant capital infusion to advance the company’s strategic initiatives.
The net proceeds from the sale of the notes, approximately $940.5 million after deducting initial purchasers’ discounts and commissions, will be primarily allocated to the acquisition of additional Bitcoin and for general corporate purposes. These purposes may include working capital, strategic acquisitions, expansion of existing assets, and the repayment of additional debt and other outstanding obligations. As part of the transaction, MARA also utilized approximately $18.3 million of the net proceeds to repurchase approximately $19.4 million in aggregate principal amount of its 1.00% convertible senior notes due 2026, optimizing its debt structure.
“This successful $950 million offering underscores the strong investor confidence in Marathon’s vision and our dual commitment to strengthening our Bitcoin treasury and pioneering sustainable digital energy solutions,” said a spokesperson for Marathon Digital Holdings. “The capital raised will significantly accelerate our ability to acquire more Bitcoin, further cementing our position as a leading holder of this strategic asset, which recently surpassed 50,000 BTC. Simultaneously, it empowers us to expand our innovative digital infrastructure that transforms energy systems and supports the burgeoning demands of high-performance computing, from AI to the edge.”
Marathon Digital Holdings is at the forefront of advancing the world’s energy systems by deploying digital energy technologies. The company harnesses the power of compute to transform excess or underutilized energy into digital capital, playing a crucial role in balancing the grid and accelerating the deployment of critical infrastructure. Marathon's operations span multiple states and countries, managing large grid-connected deployments that reduce energy waste and inefficiencies, as well as smaller, dispersed deployments that convert stranded energy resources into productive and sustainable assets.
The company’s technological prowess is underpinned by proprietary solutions such as MARA SLIPSTREAM, MARAFW, 2PIC by MARA, COORDINATE, ALYS, and ANDURO. These innovations enable Marathon to optimize energy use on a global scale and develop technologies that reduce the energy demands of high-performance computing applications. Marathon’s commitment extends to supporting renewable energy projects, mitigating flaring and methane emissions, strengthening power grids, and recycling heat, all while building robust digital infrastructure.
Evolution and Strategic Growth:
Marathon Digital Holdings has a rich history of strategic evolution. Originating as Marathon Patent Group, Inc., an intellectual property services and patent licensing company, the firm completed a $6.0 million financing in June 2013 to accelerate patent acquisitions and fund operations. This early focus on intellectual property laid a foundation for technological understanding and asset management. Over the past decade, the company has strategically pivoted and transformed, leveraging its foundational expertise to emerge as a global leader in digital asset compute and sustainable energy solutions, culminating in its current identity as Marathon Digital Holdings, a publicly traded entity on NASDAQ. This latest significant financing round further solidifies its strategic direction and growth trajectory in the digital energy landscape.
The notes were sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended. The notes will not bear regular interest and will mature on August 1, 2032, unless earlier repurchased, redeemed, or converted.
About Marathon Digital Holdings:
MARA Holdings, Inc. (NASDAQ: MARA) is a global leader in digital asset compute, dedicated to developing and deploying innovative technologies to build a more sustainable and inclusive future. The company secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value. With a focus on operational excellence, technological innovation, and strategic Bitcoin accumulation, Marathon is committed to advancing the digital asset ecosystem and contributing to a more sustainable energy landscape.Compiled by CMO Intern team
