Bitcoin miner Marathon Digital Holdings secures a $200 million line of credit from an undisclosed lender.
The credit facility is backed by a portion of Marathon's Bitcoin holdings and will be used for strategic opportunities and general corporate initiatives.
Marathon aims to monetize its Bitcoin holdings without issuing additional shares, potentially for purchasing more Bitcoin or covering operating costs.
Marathon has ramped up its Bitcoin production, producing 705 BTC in September and aiming to expand its hash rate to 50 EH/s by year-end.