Marathon Digital Inks $750M Crypto-Collateralized Loan
Marathon Digital Holdings (MARA) has secured $750 million in total credit facilities through a crypto-collateralized loan backed by Bitcoin. The deal represents one of the largest institutional borrowing deals a public crypto miner has ever signed.
The company pledged 18,750 BTC as collateral, worth roughly $1.2 billion at the time of the transaction. The loans mature in August 2028, with both facilities carrying a maturity date and an option for Coinbase to extend its loan by one year.
Marathon Digital plans to use the funds for general corporate purposes, including funding its planned acquisition of Long Ridge Energy & Power, a deal worth $1.5 billion. The company will also use the capital to pursue a parallel infrastructure push in Texas, targeting an initial 1 GW of grid capacity by October 2027 and up to 2 GW by April 2028.