Fundraising through convertible notes: Bitcoin miners secured $5.2 billion through convertible notes since June 2024, marking a significant trend. Notably, 70% of this was raised from November to December 2024, underscoring a surge in investor confidence for these firms.
Mara and core scientific lead market: MARA Holdings, with a market cap of $8 billion, and Core Scientific at $4.6 billion, are leading Bitcoin miners. MARA retains mined Bitcoins for expenses and acquisitions while Core Scientific focuses on AI hosting, signaling differing strategic priorities.
What makes convertible notes attractive: Convertible notes combine debt and equity benefits, offering regular interest to investors with conversion potential into equity. This method appeals to investors due to potential stock appreciation, despite the risks during difficult market conditions.
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