Marathon Digital Holdings Completes $300 Million Convertible Senior Notes Offering

Paul, Weiss advised Marathon Digital Holdings, Inc. in a Rule 144A offering of $300 million aggregate principal amount of 2.125% convertible senior notes. The amount included $50 million in notes issued under an overallotment option, which the initial purchasers exercised in full. The joint bookrunning managers for the offering were led by Barclays. The company intends to use the net proceeds to acquire additional bitcoin and for general corporate purposes.

The Paul, Weiss team was led by corporate partners Luke Jennings and John Kennedy, and included tax partner Brian Krause and counsel Samir Kurani.