In a recent official announcement, MARA Holdings, Inc. has reported a substantial growth in its cryptocurrency holdings, now valued close to $6 billion, representing a total of 52,477 BTC. This positions the miner as one of the most significant public corporate Bitcoin holders, closely following Michael Saylor’s entity in the ranks.
Bitcoin Production and Asset Accumulation
MARA has successfully mined over 700 BTC during August, maintaining a consistent rate of 22.7 BTC per day.
During the same timeframe, Bitcoin’s value experienced a decline of approximately 5%. After peaking at $124,400, it settled around $107,000. In response, the company opted to expand its treasury rather than liquidate assets, seizing the opportunity to procure more Bitcoin, thereby boosting its reserves.
“Despite market fluctuations, we leveraged the dip to enhance our treasury, which now exceeds 52,000 BTC,” stated CEO Fred Thiel.
Improvements in Hashrate and Operational Developments
The company revealed an increase in its active hashrate, which now stands at 59.4 EH/s. All mining facilities at MARA’s Texas location are fully installed, with expectations for complete operational readiness by the end of 2025.
The upward trend in production continued into the summer, with monthly increases noted: July saw a 27% rise in mining rewards, jumping from 591 BTC in June to 692 BTC, and finally reaching 705 BTC in August.
Rank Among Public Bitcoin Holders
Recent data indicates that MARA holds the second position among publicly traded companies in terms of Bitcoin reserves, trailing behind Michael Saylor’s entity, which boasts approximately 636,505 BTC following a recent $449 million purchase.
Other notable firms in the mix include Twenty One with 43,514 BTC, Bitcoin Standard Treasury Company holding 30,020 BTC, and Bullish, which has 24,000 BTC.
Investors have enjoyed a remarkable total return of 700% over the last five years, although this long-term success contrasts sharply with recent performance fluctuations due to the inherent volatility of Bitcoin.
Strategic Expansions and European Ventures
MARA is extending its operational horizons beyond mere mining. The company announced intentions to acquire a 64% stake in Exaion, a subsidiary of the French energy giant EDF, with plans to potentially increase this holding to one-third by 2027.
The aim is to combine MARA’s robust infrastructure with AI-driven edge solutions to reduce costs and satisfy the escalating energy demands across Europe.
With 52,477 BTC valued at nearly $6 billion, MARA is solidifying its position as a key player among public Bitcoin holders and expanding its strategic footprint in the technological landscape.
Featured image sourced from Getty Images, chart from TradingView
