Marathon Digital Secures $100 Million Credit Line with Silvergate Bank

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Press release found here.

  • Marathon Digital Holdings, Inc. (NASDAQ:MARA) has announced a new $100 million dollar revolving line of credit (RLOC) with Silvergate Bank, a leading provider of innovative financial infrastructure solutions and services for the expanding digital currency industry.

  • The RLOC is secured with bitcoin and USD, and may be utilized by Marathon for general corporate purposes related to the company’s bitcoin mining business and acquiring more equipment.

  • Marathon is one of the largest Bitcoin mining companies in North America and has released key stats as of October 1, 2021 such as:

    • Produced 1,252.4 new bitcoins during Q3 2021 (an increase of production by 91% from Q2)

    • Produced 340.6 new bitcoins during September 2021, increasing total BTC holdings to about 7,035 BTC valued at $336.3 million.

  • The mining company has also released updated figures regarding their monthly BTC mining production and expected hash rate increases.

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