MARA Holdings Buys $1.1bn More Bitcoin, Hits Industry-First 50 EH/s
By Kapil Rajyaguru
Bitcoin mining powerhouse MARA Holdings Inc. just made waves by purchasing 11,774 Bitcoin for a jaw-dropping $1.1 billion. This latest acquisition, announced via X, formerly Twitterm on Dec. 10, came at an average price of $96,000 per Bitcoin, financed through a zero-coupon convertible note offering.
As of Dec. 9, MARA holds 40,435 Bitcoin, valued at a staggering $3.92 billion at Bitcoin’s current price of around $97,000.
MARA achieved a groundbreaking feat by becoming the first public Bitcoin miner to surpass a hashrate of 50 exahashes per second (EH/s).
For context, hashrate measures the computational power used to solve complex mathematical puzzles that secure the Bitcoin network and verify transactions. The higher the hashrate, the more mining dominance a company wields.
Doubling its energized hashrate in 2024, MARA leaped from 36.9 EH/s in Q3 to 50 EH/s by year-end—a gain of 13.1 EH/s in just months.
MARA isn’t just accumulating Bitcoin; it’s maximizing returns. The firm boasts a 12.3% BTC Yield for Q4 and 47.6% year-to-date, according to a Dec. 9 SEC filing.
This aggressive strategy echoes MicroStrategy’s Bitcoin playbook, as MARA’s July treasury overhaul committed the company to retain all mined Bitcoin and leverage capital markets to expand reserves.
With its $1.1 billion Bitcoin buy and industry-first 50 EH/s hashrate, MARA is solidifying its place at the forefront of Bitcoin mining. As the company’s CEO hints at further expansion, the crypto world will be watching closely. MARA isn’t just mining Bitcoin; it’s mining dominance.
You need to login in order to Like
