world’s largest Bitcoin (BTC) one of the miners Marathon Digital, announced that it has received a BTC-backed $100 million loan.
Marathon Digital announced on July 28 that it has expanded its lending facility and refinanced its existing $100 million line of credit with Silvergate Bank. BTC He stated that he received an additional $100 million secured term loan.
The refinanced line of credit allows the company to withdraw $50 million initially and the remaining $50 million within 270 days (starting July 28).
Hugh Gallagher, CFO of Marathon, said in a statement:
“We are pleased to close these debt facilities. We believe the combination of term loan and revolver gives Marathon exceptional flexibility in our financing options.
With these facilities, we have met our goals of adding both capacity and optionality to finance the growth of our future operations.
We would like to thank the Silvergate team for their involvement in collaborating to bring these facilities to life.”
Marathon Digital also stated that there are no outstanding balances on the first $100 million loan, which will expire in October 2022.
Marathon Digital announced earlier this year that 8,595 units in its reserves bitcoin He said that he has no sales since October 2020.