Bitcoin miner Marathon Digital Holdings said it has secured a $200 million line of credit from an undisclosed lender, according to an Oct. 15 statement.
According to the company, the credit facility is backed by a portion of its Bitcoin holdings and will be used to seize strategic opportunities and support general corporate initiatives.
Marathon did not disclose specific details regarding the terms of the credit line and has yet to respond to CryptoSlate’s request for further comment as of press time.
Industry analysts view this move as a way for Marathon to monetize its Bitcoin holdings without issuing additional shares. This approach allows the company to either purchase more Bitcoin or cover operating costs for an extended period while retaining its total Bitcoin output.
Potential uses for the fund could also include share buybacks or strategic acquisitions, although these remain speculative.
In July, Marathon reaffirmed its strategy of holding all mined Bitcoin on its balance sheet, citing favorable market conditions and growing institutional support for the top crypto.
According to data from Bitcoin Treasuries, the company is the second-largest public holder of Bitcoin globally, with 26,842 BTC valued at approximately $1.8 billion.
Increased Bitcoin production
The new credit facility comes as Marathon has ramped up its Bitcoin production. The company produced 705 BTC in September, up from 673 BTC in August.
This increase reflects the company’s robust global operations, which have enabled it to raise its energized hash rate by 5%, reaching 36.9 exahashes per second (EH/s). Marathon aims to further expand its hash rate to 50 EH/s by the end of the year.
Commenting on the company’s performance, Marathon’s Chairman Fred Thiel said:
“Block wins during the month increased 6% from August while BTC production grew 5% to 705 BTC. We are proud to have surpassed a marathon worth of bitcoin HODL in September and currently have almost 27,000 BTC on our balance sheet.”
cost cheap clomiphene online can i get cheap clomiphene no prescription where can i buy cheap clomiphene no prescription clomiphene order clomiphene challenge test can i purchase cheap clomiphene prices where buy clomid price
I am in truth enchant‚e ‘ to coup d’oeil at this blog posts which consists of tons of worthwhile facts, thanks for providing such data.
More posts like this would make the online time more useful.
purchase azithromycin online cheap – buy tetracycline no prescription buy metronidazole cheap
buy semaglutide without a prescription – buy rybelsus for sale purchase periactin pill
order motilium 10mg – tetracycline 250mg uk buy flexeril paypal
propranolol pill – buy cheap plavix methotrexate 5mg brand
clavulanate price – https://atbioinfo.com/ acillin where to buy
buy esomeprazole 20mg online – https://anexamate.com/ nexium 20mg us
warfarin 2mg pill – https://coumamide.com/ order cozaar generic
where can i buy meloxicam – relieve pain mobic 15mg generic
buy deltasone generic – aprep lson brand deltasone 10mg
buy ed pills generic – fast ed to take site natural pills for erectile dysfunction
buy amoxil pills for sale – combamoxi generic amoxil
where can i buy cialis online in australia – https://ciltadgn.com/ cialis ontario no prescription
order generic ranitidine 150mg – this zantac generic
where to buy tadalafil online – https://strongtadafl.com/# where can i buy cialis online in australia
order viagra cialis canada – strong vpls viagra 50 mg coupon
I am in fact happy to glitter at this blog posts which consists of tons of profitable facts, thanks object of providing such data. tamoxifen usa
With thanks. Loads of expertise! buy neurontin 600mg without prescription
Palatable blog you possess here.. It’s obdurate to assign elevated status article like yours these days. I honestly recognize individuals like you! Go through guardianship!! https://ursxdol.com/cialis-tadalafil-20/
Facts blog you be undergoing here.. It’s severely to assign high quality belles-lettres like yours these days. I truly respect individuals like you! Withstand care!! https://prohnrg.com/product/priligy-dapoxetine-pills/
This is the type of post I recoup helpful. acheter du propecia sur internet
Proof blog you possess here.. It’s severely to espy strong worth writing like yours these days. I really respect individuals like you! Go through vigilance!! https://ondactone.com/simvastatin/
More articles like this would make the blogosphere richer.
lioresal pill
Thanks on putting this up. It’s okay done. http://web.symbol.rs/forum/member.php?action=profile&uid=1171364