Coinbase Facilitates Record $450M Crypto-Backed Loan for Marathon Digital

Coinbase Prime facilitated a massive $450 million crypto-collateralized loan for Marathon Digital Holdings, one of the largest deals of its kind to date.

The deal, announced on August 4, saw Coinbase Credit supplying $450 million and Two Prime Lending kicking in another $300 million at a fixed 7.65% interest rate.

MARATHON pledged 18,750 BTC for the borrowing, which carried a market value of approximately $1.2 billion at the time of the transaction.

The funds will be used for general corporate purposes, including the planned acquisition of Long Ridge Energy & Power, a deal projected to cost around $1.5 billion in enterprise value.