Coinbase Prime Facilitates Record-Breaking Crypto-Collateralized Loan for Marathon Digital

Coinbase Prime and Two Prime Lending have facilitated a massive crypto-collateralized loan for Marathon Digital Holdings, providing $450 million and $300 million respectively. The Bitcoin miner has pledged 18,750 BTC as collateral, which carried a market value of approximately $1.2 billion at the time of the transaction.

The total facilities amount to $750 million, with refinancing of an existing $150 million credit line and fresh capital. Both loans mature in August 2028 and come with ongoing margin coverage requirements.

MARATHON plans to use the funds for general corporate purposes, including its planned acquisition of Long Ridge Energy & Power. The deal is valued at approximately $1.5 billion in enterprise value.