Lucía Peña
MARA Holdings is on the verge of a major achievement, with its Bitcoin reserves reaching 49,940 BTC, positioning it just shy of the highly anticipated 50,000 BTC mark. This development strengthens its standing as the second-largest publicly traded Bitcoin holder, trailing only behind MicroStrategy (MSTR).
In June, the company experienced a notable 25% drop in the number of blocks mined, with only 211 blocks secured during the month. The dip was largely attributed to weather-related power curtailments and the temporary use of older hardware in Garden City, as the firm worked to repair storm-related damages.
Despite the slowdown, MARA refrained from selling any Bitcoin, maintaining its long-term holding strategy. As a result, the firm’s Bitcoin treasury grew steadily, now valued at approximately $5.3 billion based on current market rates.
Strategic Reserves and Future Growth Plans
According to the company’s June production report, 15,534 BTC from its holdings are either used as collateral or kept in separately managed accounts, ensuring financial flexibility for future operations.
“This milestone reflects our disciplined approach to accumulating bitcoin through both mining and strategic purchases,” commented Fred Thiel, MARA’s Chairman and CEO.
Hash Rate Expansion Targets 75 EH/s by Year-End
Looking ahead, MARA aims to boost its hash rate to 75 exahash per second (EH/s) by the end of the year — a 40% increase compared to last year’s figures. This ambitious goal signals the company’s continued commitment to expanding its influence in the Bitcoin mining sector.
Following the release of the update, MARA shares dipped 2.7% in premarket trading, coinciding with an overnight drop in Bitcoin’s price to $106,400.
