{"id":34682,"date":"2021-01-13T19:17:16","date_gmt":"2021-01-13T17:17:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34682"},"modified":"2025-08-28T21:43:17","modified_gmt":"2025-08-28T18:43:17","slug":"marathon-to-raise-250-million-for-expansion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/marathon-to-raise-250-million-for-expansion\/","title":{"rendered":"Marathon to raise $250 million for expansion"},"content":{"rendered":"<p>The Nasdaq-listed mining company Marathon Patent Group will raise $250 million through the sale of 12.5 million shares to purchase new cryptocurrency mining equipment, according to a <a href=\"https:\/\/www.globenewswire.com\/news-release\/2021\/01\/13\/2157574\/0\/en\/Marathon-Patent-Group-Announces-250-0-Million-Registered-Direct-Offering-of-Common-Stock.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">press release<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>Marathon plans to sell ordinary shares at $20 to institutional investors in a private placement.<\/p>\n<p>The company will apply net proceeds from this offering to general corporate purposes, funding of ongoing operations and expansion of the business.<\/p>\n<p>In a statement, <a href=\"https:\/\/www.coindesk.com\/bitcoin-miner-marathon-to-raise-250m-in-direct-stock-offering\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">CoinDesk<\/a> CEO Merrick Okamoto said that the funds would be used to participate in the \u201carms race\u201d among miners by increasing its fleet of Bitmain devices.<\/p>\n<p>Back in December, Marathon <a href=\"https:\/\/u1f987.com\/en\/news\/marathon-to-buy-bitcoin-miners-from-bitmain-for-170-million\">agreed<\/a> with Bitmain to buy 70,000 Antminer S19s for $170 million. After deploying the new devices, the company&#8217;s hash rate will rise to 10.36 EH\/s.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nasdaq-listed mining company Marathon Patent Group will raise $250 million through the sale of 12.5 million shares to buy new cryptocurrency mining equipment, according to a press release.<\/p>\n","protected":false},"author":1,"featured_media":34683,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1185],"class_list":["post-34682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-marathon-digital-holdings"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34682"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34682\/revisions"}],"predecessor-version":[{"id":34684,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34682\/revisions\/34684"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34683"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}