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Matador Technologies Revises $100M Convertible Note Terms to Focus on Bitcoin Holdings Expansion

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Bitcoin news broke on December 16 as Matador Technologies Inc. (TSXV:MATA) announced revised terms for its $100 million convertible note with ATW Partners, with the first $10.5 million already funded. The company dropped earlier targets of holding 6,000 BTC by 2027 and owning 1% of total Bitcoin supply. Now, funds will be used solely to increase Bitcoin per-share holdings. Notes carry an 8% interest rate, reducing to 5% if the company lists on NASDAQ or NYSE. Bitcoin collateral backs 150% of the first tranche and 100% of later ones. CEO Deven Soni called it a key move in the firm’s Bitcoin accumulation plan, aiming for 1,000 BTC by 2026. Traders are also keeping an eye on altcoins to watch amid shifting market dynamics.
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