{"id":65269,"date":"2022-08-03T09:50:53","date_gmt":"2022-08-03T06:50:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65269"},"modified":"2025-09-06T19:01:00","modified_gmt":"2025-09-06T16:01:00","slug":"marathon-to-secure-a-100-million-revolving-credit-line-from-silvergate-capital","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/marathon-to-secure-a-100-million-revolving-credit-line-from-silvergate-capital\/","title":{"rendered":"Marathon to secure a $100 million revolving credit line from Silvergate Capital"},"content":{"rendered":"<p>The mining company Marathon Digital Holdings has agreed to open a $100 million revolving credit line from Silvergate Capital, secured by Bitcoin.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/twitter.com\/search?q=%24MARA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$MARA<\/a> Expands credit facilities, increasing debt funding capacity by $100 million \ud83d\udc47<\/p>\n<p>\u2014 refinanced existing $100 million revolving LOC<\/p>\n<p>\u2014 added $100 million term loan<\/p>\n<p>Details here: <a href=\\\"https:\/\/t.co\/GJ5bqdfAQ6\\\">https:\/\/t.co\/GJ5bqdfAQ6<\/a><\/p>\n<p>\u2014 Marathon Digital Holdings (@MarathonDH) <a href=\\\"https:\/\/twitter.com\/MarathonDH\/status\/1554197395281510407?ref_src=twsrc%5Etfw\\\">August 1, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Under the terms, Marathon will receive $50 million upfront and $50 million over the next 270 days after July 28. The line&#8217;s rate will be variable and initially 7.25% per year. The agreement runs for two years.<\/p>\n<p>Marathon also agreed to refinance a $100 million loan maturing in October 2022. It has been extended to July 2024.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\\&#8221;Marathon has provided exceptional flexibility regarding financing options\\&#8221;<\/em>, said <span data-descr=\\\"Chief Financial Officer\\\" class=\\\"old_tooltip\\\">CFO<\/span> of the company, Hugh Gallagher.<\/p>\n<\/blockquote>\n<p>In June, public mining companies <a href=\\\"https:\/\/forklog.news\/v-iyune-publichnye-majnery-likvidirovali-chetvert-bitkoin-rezervov\/\\\">sold a total of 14,600 BTC<\/a>, representing 23% of their reserves in the top cryptocurrency.<\/p>\n<p>In the second quarter, Marathon Digital Holdings <a href=\"https:\/\/u1f987.com\/en\/news\/marathon-cuts-bitcoin-mining-by-44\">reduced<\/a> Bitcoin mining by 44% to 707 BTC. The company&#8217;s reserves stood at 10,055 BTC (~$199 million as of July 7), cash and cash equivalents were $88.7 million, and the outstanding balance of loans was $35 million.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\u201d\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining company Marathon Digital Holdings has agreed to open a $100 million revolving credit line from Silvergate Capital secured by Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":65270,"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":[1137,1185,1683],"class_list":["post-65269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-marathon-digital-holdings","tag-silvergate-bank"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65269","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=65269"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65269\/revisions"}],"predecessor-version":[{"id":65271,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65269\/revisions\/65271"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/65270"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=65269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=65269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=65269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}