MARA Mining : Bitcoin Lending Initiative
In 2024, MARA (formerly Marathon Digital) initiated a Bitcoin lending program, loaning out 7,377 BTC to established third parties. These short-term contracts generate modest single-digit yields, helping offset the company’s operational costs from energy-intensive Bitcoin mining.
Addressing Challenges in Mining
MARA’s Vice President of Investor Relations, Robert Samuels, highlighted the challenges of Bitcoin mining, particularly following the April 2024 halving, which reduced block rewards to 3.125 BTC per mined block. The lending program demonstrates MARA’s innovative approach to maintaining profitability.
Milestone Achievements in MARA Mining and Reserves
Hash Rate Record: 50+ EH/s
In December 2024, MARA became the first publicly-listed mining firm to surpass 50 exahashes per second (EH/s) in computational power, currently operating at an impressive 53.2 EH/s.
Significant Bitcoin Accumulation
MARA’s Bitcoin reserves saw notable growth in 2024:
- Purchased 22,065 BTC at an average price of $87,205 per Bitcoin.
- Mined 9,457 BTC, bringing total reserves to 44,893 BTC.
Capital Raising for Expansion
Through senior convertible notes offerings in late 2024, MARA raised $1.9 billion, which funded the acquisition of 15,574 BTC. These zero-interest notes mature in 2030 and 2031, supporting MARA’s treasury strategy.
MARA Mining : Recognition and Future Prospects
Industry Praise
Michael Saylor, co-founder of MicroStrategy, praised MARA’s strategy of holding Bitcoin as a reserve asset. He anticipates MARA’s inclusion in the Nasdaq-100, which features the largest non-financial companies on the Nasdaq exchange.
A Promising Future
MARA’s innovative strategies in Bitcoin mining, lending, and reserves position it as a leader in the cryptocurrency sector, paving the way for continued growth and recognition.
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