Marathon Digital has announced that it will mark every Bitcoin block it mines in the United States with a “Made in USA” label.
In a statement on X (formerly Twitter), the company declared, “MARA is Team USA, proudly declaring each American-made Bitcoin block we mine.”
Fred Thiel, CEO of Marathon Digital, highlighted that the company, as one of the largest Bitcoin miners in the U.S., ensures that every block from its operations carries this designation. “Every block mined by MARA Pool in the USA is proudly stamped ‘Made in USA,’” Thiel stated. He added, “We are the only large-scale miner capable of this because we run our own pool and ensure all blocks mined by MARA Pool are made in the USA.”
This initiative aligns with former President Donald Trump’s advocacy for having all Bitcoin produced in the U.S. In a June 12 statement, Trump expressed his goal for the U.S. to become the leading energy producer for Bitcoin mining, asserting that this could enhance the country’s energy dominance. He also pledged support for domestic crypto mining during the Bitcoin 2024 Conference in Nashville, promising sufficient electricity for mining operations.
In addition to this new labeling strategy, Marathon Digital has announced a $250 million private offering of convertible senior notes. The proceeds will be used to acquire additional Bitcoin and support general corporate purposes. The notes will mature on September 1, 2031, and will yield semi-annual interest payments starting March 2025.
Marathon Digital currently holds over 20,800 Bitcoins, more than twice the amount held by its competitor, Hut 8. The company plans to use the funds from the private offering for working capital, strategic acquisitions, and expansion of its existing assets.
