MARA Holdings, Inc. (NASDAQ: MARA), a global firm focused on leveraging digital asset compute to support the energy transformation, recently released unaudited BTC production and miner installation updates for December 2024.
Fred Thiel, MARA‘s chairman and CEO said:
“In December, we surpassed our year-end hash rate target of 50 EH/s while improving our fleet efficiency to 20 J/TH. We mined 249 blocks, the second most blocks in a month on record.”
They added:
“Our energized hash rate increased to 53.2 EH/s, a 15% improvement over November, while BTC production declined 2% to 890 BTC, primarily due to a slight decrease in luck. While some of our bitcoin and hash rate was acquired outside of our own pool, MARAPool achieved an impressive annual hash rate growth of 168% in 2024, exceeding bitcoin’s network growth rate of 49%. These results underscore the substantial progress we’ve achieved in expanding our operations and enhancing performance, further solidifying our leadership within the industry.”
They also shared:
“In 2024, we acquired 22,065 BTC at an average price of $87,205 and mined an additional 9,457 BTC. Our year-end BTC yield per diluted share was 62.7%. Overall, we now own a total of 44,893 BTC, valued at $4.2 billion based on a spot price of $93,354 per BTC. Of note, as of December 31, 2024, we had 7,377 BTC loaned to third parties generating additional return for our stakeholders.”
The company’s management added that as a miner that mines and buys bitcoin, the hybrid approach provides them “significant flexibility to acquire bitcoin at attractive prices.”
The firm’s management also mentioned that it further allows them to capitalize on market conditions “by buying BTC during price declines, optimizing our acquisition cost.”
They also believe they maintain a “competitive advantage through their mining operations, enabling us to produce BTC at a lower cost than the prevailing spot price.”
The firm said it believes this dual approach “strengthens their position and enhances our ability to deliver long-term shareholder value.”