MARA Holdings reports a 15% increase in energized hash rate to 53.2 EH/s and BTC holdings reach 44,893 BTC by December 2024. The company mined 890 BTC, with a year-end yield per share of 62.7%. Their hybrid acquisition model offers competitive advantages in the volatile cryptocurrency market, positioning them for growth.
MARA Holdings, Inc. recently announced significant updates regarding its Bitcoin production and mining operations as of December 2024. The company’s energized hash rate surged 15% to 53.2 EH/s, while their BTC holdings climbed to a staggering 44,893 BTC, emphasizing their successful operational strategy and leadership in the cryptocurrency sector.
In his commentary, Fred Thiel, MARA’s chairman and CEO, highlighted their achievements: they outperformed their end-of-year hash rate goal of 50 EH/s and improved fleet efficiency to 20 J/TH. Despite a minor decline in BTC production to 890 BTC due to luck variations, MARA’s yearly hash rate growth at 168% notably surpassed Bitcoin’s own network growth rate of 49%. This signifies substantial progress in expanding operations and performance enhancements.
In 2024 alone, MARA acquired 22,065 BTC at an average price of $87,205 and mined an additional 9,457 BTC. Their year-end BTC yield per diluted share stood impressively at 62.7%. Consequently, with their holdings valued at $4.2 billion based on a spot price of $93,354 per BTC, they are poised for continued success. Notably, 7,377 BTC is also loaned out, generating additional returns for stakeholders.
Utilizing a hybrid approach that includes both mining and purchasing Bitcoin provides MARA with flexibility to acquire assets at competitive prices. This model allows them to optimize acquisition costs during market dips, ensuring a lower production cost than the prevailing spot price. By leveraging this dual strategy, MARA strengthens its market position and growth trajectory for long-term shareholder value.
Comparative metrics reveal that in December, MARA produced 890 BTC, a slight decrease from 907 BTC in November, reflecting a 5% average BTC production decline per day. The energized hash rate reached 53.2 EH/s, a notable increase from 46.1 EH/s. Transaction fees also saw a change, accounting for 2.7% of total revenue, down from 3.3% in the previous month.
MARA’s financial performance showcases a trajectory of growth, with total Bitcoin holdings rising dramatically from 15,174 BTC at the end of 2023 to 44,893 BTC by December 2024. The shares outstanding have also increased, reflective of the company’s robust activity in the marketplace and confidence in future returns.
Investments in MARA’s securities are considered risky, and potential investors are urged to consider documented risks, uncertainties, and forward-looking statements associated with the company before committing. The operational highlights specifically pertain to Bitcoin mining operations, with more detailed information available through their SEC filings.
MARA is recognized as a leader in digital asset computation, dedicated to developing and implementing technologies that foster a sustainable future. Their commitment encompasses transforming underutilized energy into economic opportunities to support blockchain infrastructure. For more insights into their operations and achievements, visit their official website or follow them on social media platforms.
MARA Holdings, Inc. has made remarkable strides in its Bitcoin mining operations, significantly increasing its energized hash rate and BTC holdings. Their hybrid mining and purchasing model provides them with a flexible approach to maximize profit while maintaining a competitive edge. With a focus on sustainable energy transformation and substantial growth in their BTC yield, MARA is well-positioned to enhance shareholder value moving forward.
Original Source: www.globenewswire.com
