MARA Holdings, recognised as the most significant Bitcoin miner by market capitalisation, has decided to lend 7,377 BTC to third parties. This move aims to generate returns on its holdings while addressing some operating costs.
On Friday, MARA published a production report that refrained from disclosing the identities of the borrowers or providing additional information about the program, which currently involves approximately 16% of its bitcoin holdings. Robert Samuels, the company’s vice president of investor relations, stated in a post on X that the yield is below 10%.
“MARA’s bitcoin lending program has garnered considerable attention,” Samuels stated. Short-term arrangements with reputable third parties are the primary focus of this initiative.
The yield is modest, falling within the single-digit range. The activity has persisted consistently during the year 2024. The overarching goal is to produce enough yield to cover operating expenses.
According to the production report, the company generated 890 bitcoins last month, marking a 2% decrease compared to November. Nonetheless, this marks the second-highest BTC recorded since the reward halved in April.
“In the report, Chairman and CEO Fred Thiel announced that the company mined 249 blocks, marking the second highest monthly total on record,” MARAPool reported a remarkable annual hash rate growth of 168% in 2024, significantly outpacing Bitcoin’s network growth rate of 49%.
In 2024, MARA acquired 22,065 BTC at an average price of $87,205. Additionally, the company mined 9,457 BTC, bringing its total holdings to 44,893 BTC. Bitcoin is presently valued at just under $100,000. The firm ranks as the second-largest publicly traded Bitcoin holder, following MicroStrategy (MSTR).
MARA shares experienced a 2.60% increase in pre-market trading, marking a 14% rise since the beginning of the year.