What to know:
Mara Holdings (MARA), the top-ranked Bitcoin (BTC) mining company in terms of market value, announced that they are loaning out 7,377 Bitcoins to external parties. This move aims to produce income from their Bitcoin holdings and help cover some operational expenses.
In a report published last Friday, MARA chose not to disclose the names of the borrowers or any specific details about the program. This program represents approximately 16% of their total bitcoin holdings. Robert Samuels, the company’s Vice President of Investor Relations, announced on platform X that they are currently earning a return of less than 10%.
Samuels shared that there’s been a lot of attention on MARA’s Bitcoin lending program this year. This program primarily involves short-term deals with trusted external partners, offering a low double-digit return. It has been operational throughout 2024, and the ultimate goal is to produce enough income to cover ongoing expenses in the long run.
Last month, the company mined 890 bitcoins, which was a 2% decrease compared to the production in November, according to the latest report. However, this figure is the second highest number of bitcoins produced by the company since the reward halving in April.
In a recent report, Chairman and CEO Fred Thiel stated that we mined 249 blocks, the second highest number of blocks mined in a single month. Moreover, MARAPool showed remarkable progress, increasing its annual hash rate by an impressive 168%, outpacing bitcoin’s network growth rate of 49% in the same year.
In the entire year 2024, MARA managed to purchase a total of 22,065 Bitcoins at an average cost per Bitcoin of approximately $87,205. On top of that, they mined an extra 9,457 Bitcoins, bringing their holdings up to a whopping 44,893 Bitcoins. At the moment, Bitcoin is trading slightly below $100,000. As such, MARA stands as the second-largest publicly traded entity owning Bitcoin, only surpassed by MicroStrategy (MSTR).
MARA shares rose 2.60% in pre-market trading and have 14% since the start of the year.
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2025-01-06 13:22