MARA, formerly known as Marathon Digital, has been actively engaging in Bitcoin lending to offset operational costs in a challenging mining environment.
Bitcoin Lending Strategy
In 2024, MARA lent out 7,377 BTC to third parties. The company's vice president of investor relations, Robert Samuels, emphasized that the lending program is designed for short-term arrangements yielding modest returns to help cover operational costs associated with Bitcoin mining.
Computational Power Achievements
In December 2024, MARA became the first publicly traded mining firm to achieve a computing power of 50 exahashes per second (EH/s). To date, their power has increased to 53.2 EH/s.
Growth in Bitcoin Reserves and Financial Strategies
The company has also expanded its Bitcoin reserves, acquiring 22,065 BTC at an average price of $87,205 per coin and mining an additional 9,457 BTC, bringing its total holdings to 44,893 BTC. MARA raised $1.9 billion through two convertible notes, facilitating the purchase of 15,574 BTC for its treasury. These notes feature zero-interest coupons, maturing in 2030 and 2031.
MARA's strategy has attracted attention from experts like Michael Saylor, who predicts the company's potential inclusion in the Nasdaq 100 index, reflecting its growing prominence in the cryptocurrency sector.
