MARA Hits Record in Bitcoin Mining, Holds 950 BTC

In May, Marathon Digital, now known as MARA, mined 950 BTC, worth over $101 million. This achievement brought their Bitcoin holdings to 49,179 BTC, strengthening the second-largest public Bitcoin treasury. This marks a 35% increase from April's production, with 282 blocks mined—a record high for MARA. MARA has ventured into AI infrastructure services to diversify its portfolio, particularly after the 2024 Bitcoin halving, which impacted mining revenues. The company has also announced plans to expand its mining capacity, aiming to raise $2 billion through stock offerings to support this. The 950 BTC mined is MARA's best post-halving result, although still less than the 1,853 BTC mined in December 2023. As the largest public Bitcoin miner in the U.S., MARA holds a $4.9 billion market cap, with shares trading over $15. Despite being down 12.7% this year, some analysts project the stock value could more than double. MARA's first-quarter revenue reached $214 million, a $50 million increase from the previous year, despite a net loss of $533 million. Recently, MARA partnered with Two Prime, a SEC-registered advisor, to manage 500 BTC in a yield strategy to maximize returns on their crypto holdings. This article is for informational purposes and not intended as financial advice.