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Bitcoin Miner Marathon Closes 2022 With $103.7 Million Cash After Paying Down Debt

Bitcoin miner Marathon Digital said that it paid down its revolver borrowings last month, freeing up bitcoin held as collateral and bringing its unrestricted holdings from 4,200 to 7,815 BTC.

At the end of a difficult year for the mining industry, the company held $103.7 million unrestricted in cash. Total bitcoin holdings were 12,232 BTC.

"Given the macroeconomic uncertainty heading into 2023, we decided to fully pay down outstanding balances under our revolving credit agreement," Marathon CEO Fred Thiel said in a statement Thursday. Its revolver borrowings totaled $30 million as of Nov. 30.

(by Catarina Moura)

Bitcoin Miner Marathon Digital
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