Marathon Digital Holdings just turned its Bitcoin stash into a $600 million credit line. The Bitcoin miner secured two term loans collateralized by 18,750 BTC, with Coinbase Credit supplying $450 million and Two Prime Lending kicking in another $300 million at a fixed 7.65% interest rate.
The deal, announced on August 4, is one of the largest crypto-collateralized lending arrangements to date for a publicly traded company.
How the deal is structured
The total facilities amount to $750 million. That figure includes refinancing a $150 million existing credit line alongside $300 million in fresh capital.
MARA pledged 18,750 BTC for the borrowing. At the time of the transaction, those coins carried a market value of approximately $1.2 billion, representing about 53% of the company’s total holdings of 35,577 BTC as of June 30.
