Marathon Digital terminates credit facilities with Silvergate Bank

Bitcoin mining firm Marathon Digital has paid off its term loan and terminated its credit facilities with Silvergate Bank, just as the crypto-friendly bankannounced it would be winding down operations.

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Cointelegraph reached out to Marathon Digital to understand whether the timing of the announcement had anything to do with the bank’s most recent development.

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Marathon chief financial officer Hugh Gallagher noted that the crypto “industry has significantly changed” since the firm had opened the lending facilities with Silvergate last summer, adding

Marathon is the second-biggest publicly listed holder of Bitcoin, according to CoinGecko, beaten only by software analytics company MicroStrategy.

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