Marathon Digital pledged 18,750 BTC to secure $600M in loans from Coinbase Credit and Two Prime for mining, AI, and energy infrastructure expansion.
Macro & Markets ·
Marathon Digital secured $600 million in combined financing through two separate loan agreements finalized on Aug. 4. Coinbase Credit provided $300 million in new funding as part of a $450 million facility that refinanced an earlier $150 million credit line, while Two Prime Lending contributed the remaining $300 million. The operator pledged 18,750 BTC—valued at approximately $1.2 billion—as collateral across both facilities, which carry a combined principal of $750 million.
The Coinbase tranche bears an interest rate of about 7.5%, while Two Prime's portion is fixed at 7.65%. Both loans mature in 2028. Marathon intends to deploy the capital for general corporate purposes, specifically targeting energy asset acquisitions and scaling operations in Bitcoin mining, artificial intelligence, and high-performance computing infrastructure.
The structure represents a refinancing and expansion of Marathon's existing credit arrangements, though the specific operational priorities and timeline for deploying the $600 million remain subject to corporate discretion.