Marathon Digital CEO Suggests Raising Capital Through Convertible Bonds for Future Bitcoin Purchases

Marathon Digital CEO Fred Thiel has hinted at the possibility of raising capital through convertible bonds to fund future purchases of Bitcoin. The firm recently acquired $100 million worth of the flagship digital asset, bringing its total holdings to over 20,000 BTC.

Thiel expressed the company’s intention to buy more Bitcoin from the open market when conditions are favorable for shareholders. He emphasized that the decision to make additional purchases would be based on what is best for the company’s investors.

Marathon Digital, the largest mining company in the world, has been actively expanding its Bitcoin holdings. Thiel described Bitcoin as the “world’s best treasury reserve asset” and encouraged other entities to consider holding the digital currency as a reserve asset.

To finance future acquisitions, Thiel suggested that the firm could utilize convertible notes, a financing tool that allows investors to convert their debt into equity at a later date. This strategy, popularized by companies like MicroStrategy, enables companies to raise capital without immediately diluting shareholder value.

With Marathon Digital’s commitment to strategic acquisitions and a full HODL strategy, the firm’s continued interest in Bitcoin as a long-term investment remains strong. Investors will be watching closely to see how the company navigates the evolving landscape of digital asset investments.