Catenaa, Monday, January 13, 2025 – Bitcoin mining firm Marathon Digital Holdings (MARA) revealed it has deployed 16.4% of its Bitcoin reserves, amounting to 7,377 BTC and worth nearly $730 million, in short-term third-party loans to generate a “modest single-digit yield.”
The move aims to provide additional returns for shareholders, the company said in its December 2024 production update.
MARA disclosed that the loans involve well-established third parties, though borrowers’ identities remain confidential. The strategy underscores Marathon’s hybrid approach of mining and purchasing Bitcoin, which CEO Fred Thiel described as enhancing the firm’s flexibility to acquire Bitcoin at attractive prices.
In 2024, MARA acquired 22,065 BTC at an average price of $87,205 and mined an additional 9,457 BTC, bringing its total holdings to 44,893 BTC—currently valued at over $4.4 billion.
The company also surpassed its hash rate target of 50 EH/s, reaching 53.2 EH/s by year-end. However, a minor decrease in “mining luck” caused a 2% drop in December production compared to November.
Thiel highlighted that the dual mining-and-buying model positions MARA to maximize shareholder value while leveraging the growing Bitcoin ecosystem. December also marked an all-time high in Bitcoin’s monthly hash rate, showcasing increased activity across the mining sector.
MARA’s proactive financial strategies and operational milestones emphasize its commitment to navigating the evolving Bitcoin mining landscape while securing long-term returns for stakeholders.
