The 2.125% convertible notes are due 2031

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A offering by Marathon Digital Holdings, Inc. of $300 million aggregate principal amount of its 2.125% convertible senior notes due 2031, which included $50 million aggregate principal amount of convertible notes issued pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes.

Marathon Digital Holdings is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. Marathon secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded or otherwise underutilized energy into economic value.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Paula Gergen, Bex Childress, Eddie Magana and Jared Madnick. The tax team included partner Corey M. Goodman, counsel Yixuan Long and associate Michael Mirabella. Partner Frank J. Azzopardi and associate Francesca Masella provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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