Marathon Digital Holdings, a Bitcoin self-mining companies in North America, announced a new $100 million revolving line of credit with Silvergate Bank, a leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry.

According to the press release posted on the Marathon Digital Holdings website, on October 1, 2021, Marathon secured a $100 million revolving line of credit with Silvergate Bank, a leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry.

Under the terms of the agreement, Marathon may utilize the RLOC for general corporate purposes related to the Company’s bitcoin mining business, including but not limited to, the acquisition of bitcoin mining equipment. The RLOC, which is secured by bitcoin and USD, will be initially available for one year and may be renewed annually by agreement between Silvergate Bank and Marathon.

Read the full press release here.