MARA Reports December Bitcoin Production and Strategic Lending Activities

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MARA, a leading Bitcoin mining company, released its December 2024 production report, highlighting its mining performance and the utilization of short-term third-party loans to generate additional yields.

As of December 31, 2024, the company disclosed that 7,377 BTC, accounting for 16.4% of its BTC reserves, had been allocated to short-term lending programs. These initiatives aim to increase returns for shareholders by leveraging the firm’s cryptocurrency holdings.

In a post shared on X (formerly Twitter), Robert Samuels, MARA’s vice president of investor relations, elaborated on the lending initiative. The program, operational throughout 2024, involves short-term agreements with established third-party institutions. Although the borrowers remain undisclosed, the program is said to deliver modest single-digit yields, aligning with the company’s strategy to optimize its financial performance.

There has been significant interest in @MARAHoldings BTC lending program, so here’s a bit more detail:
– It focuses on short-term arrangements with well-established third parties.
– Generates a modest single-digit yield.
– It has been active throughout 2024.
– The long-term…

— Robert Samuels (@RobSamuelsIR) January 3, 2025

During 2024, MARA expanded its BTC holdings significantly. The company acquired 22,065 BTC at an average cost of $87,205 per coin and mined an additional 9,457 BTC. This brought its total reserves to an impressive 44,893 BTC, valued at over $4.4 billion at current market prices.

Exceeding Hash Rate Goals Amid Slight Production Dip

MARA also surpassed its annual energized hash rate target, reaching 53.2 EH/s—above its goal of 50 EH/s. However, a slight reduction in mining “luck” contributed to a 2% drop in December’s BTC production compared to November.

Despite this minor decline, the broader BTC network achieved a new all-time high in monthly hash rate for December, as reported by PRIME.

Fred Thiel, MARA’s CEO and chairman, emphasized the benefits of the company’s dual strategy of mining and purchasing BTC. “Our hybrid model provides us with the flexibility to acquire BTC at favorable prices,” Thiel explained. “This approach strengthens our position and enhances our ability to deliver long-term value for our shareholders.”