Marathon Digital Sells 15,133 BTC to Repurchase Convertible Notes

Marathon Digital Holdings has sold 15,133 Bitcoin for approximately $1.1 billion to finance the repurchase of $1 billion in 0.00% convertible senior notes due in 2030 and 2031. According to NS3.AI, this strategic move reduces the company's total convertible debt by 30%, bringing it down to $2.3 billion, and results in $88.1 million in cash savings before accounting for transaction costs. This sale follows a policy change on March 3 that allowed the company to expand its Bitcoin sales beyond newly mined production.