MARA Holdings (MARA), the largest bitcoin (BTC) miner by market capitalization, recently announced its strategy to lend 7,377 BTC to third parties, aiming to generate returns on its substantial holdings and cover certain operational expenses. This decision underscores the company’s proactive approach in navigating the complexities of the cryptocurrency market.
In a production report released on Friday, MARA chose not to disclose the identities of the borrowers or provide additional specifics concerning the lending program, which represents approximately 16% of its total bitcoin holdings. Robert Samuels, the company’s vice president of investor relations, shared insights on X, revealing that the lending initiative is currently yielding less than 10%.
“There has been significant interest in MARA’s bitcoin lending program,” Samuels posted. “It focuses on short-term arrangements with well-established third parties. It generates a modest single-digit yield. It has been active throughout 2024. The long-term objective is to generate sufficient yield to offset operating expenses.” This strategy highlights MARA’s intent to leverage its assets effectively while maintaining a stable financial base.
Last month, MARA produced 890 bitcoins, reflecting a 2% decrease compared to November’s output, as detailed in the production report. Nevertheless, this figure marks the second-highest bitcoin production since April’s reward halving event.
Chairman and CEO Fred Thiel emphasized the company’s operational efficiency, stating in the report, “We mined 249 blocks, the second most blocks in a month on record.” He further noted that MARAPool achieved an impressive 168% annual hash rate growth in 2024, significantly outpacing the bitcoin network’s overall growth rate of 49%.
Throughout 2024, MARA strategically acquired 22,065 BTC at an average price of $87,205, while supplementing this with an additional 9,457 BTC mined during the same period. This brings the company’s total bitcoin holdings to an impressive 44,893 BTC. As bitcoin approaches the $100,000 mark, MARA solidifies its position as the second-largest publicly traded owner of bitcoin, trailing only behind MicroStrategy (MSTR).
Following the announcement, MARA shares experienced a pre-market rise of 2.60%, contributing to a robust 14% increase in stock value since the start of the year. This positive momentum reflects investor confidence in MARA’s strategic initiatives and its operational effectiveness in a dynamic market environment.
