MARA Holdings, Inc. (NASDAQ: MARA), which claims to be one of the world’s largest publicly traded bitcoin (BTC) miners and a leader in supporting and securing the Bitcoin ecosystem, recently released unaudited BTC production and miner installation updates for August 2024.
Fred Thiel, MARA’s chairman and CEO said:
“During the month of August, we continued to bring additional hash online and our energized hash rate grew to 35.2 EH/s, an 11% increase over July. We are proud to have mined our 4,000th block during August. Block wins during the month declined 2% from July while BTC production decreased 3% to 673 BTC. We continue to invest in our mining operations and grow our business, utilizing every available resource and strategy.”
As noted in the update:
“Domestically, we continue to improve the operation of our sites and remain on track to reach our target of 50 EH/s by the end of 2024. During the month, we energized almost 18 immersion containers in Granbury, Texas. We are converting a large portion of our Granbury data center from air cooled to MARA’s immersion containers, with plans to transition at least another 30 in September. This work is expected to be completed before year end.”
As stated in the release:
“We currently own and operate approximately 54% of the 1.1 gigawatts of power in our diversified portfolio of energy technology solutions. As we continue to increase the share of owned and operated sites in our fleet, we anticipate continuing to achieve cost savings on a per petahash basis. Our long-term goal is to position MARA as one of the industry’s most cost-efficient operators.”
Operational Highlights and Updates
Prior Month Comparison:
- Metric 8/31/2024 7/31/2024 % Δ
- Number of Blocks Won 1 196 201 (2) %
- ‘BTC Produced 673 692 (3) %
- Average BTC Produced per Day 21.7 22.3 (3) %
- Share of available miner rewards 2 4.8 % 4.5 % NM
- Transaction Fees as % of Total 1 2.7 % 2.9 % NM
- Energized Hash Rate (EH/s) 1 35.2 31.8 11 %
These metrics are MARAPool only and do “not include blocks won from joint ventures.”
Defined as the total amount of block rewards “including transaction fees that MARA earned during the period divided by the total amount of block rewards and transaction fees awarded by the Bitcoin network during the period.”
As of August 31, 2024, the company held “a total of 25,945 unrestricted BTC. MARA opted not to sell any BTC in August.”
As mentioned in the update, MARA is a global enabler of digital asset compute that “develops and deploys innovative technologies to build a more sustainable and inclusive future.”
MARA secures the world’s preeminent blockchain ledger and says that it also “supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value.”
