MARA Holdings Reports Bitcoin Holdings Growth
MARA Holdings (MARA) announced that its bitcoin holdings increased to 52,477 BTC as of August 31, following the production of 705 BTC throughout the month.
The company successfully mined 208 blocks, maintaining a 4.9% share of network rewards. The energized hashrate rose by 1% month-over-month, reaching 59.4 exahashes per second (EH/s). In August, MARA chose not to sell any BTC, with management highlighting that the price drop created an opportunity to bolster reserves.
The largest cryptocurrency experienced a decline of over 6% in August, marking its worst performance since February.
“Given the decline in bitcoin price during the month, we took the opportunity to strategically add to our treasury and currently hold over 52,000 BTC,” stated CEO Fred Thiel.
Ongoing Projects and International Expansion
MARA is on track to finalize its Texas wind farm buildout by the fourth quarter, with all miners currently on-site and connected. On an international front, the company has signed an agreement to acquire a 64% stake in Exaion, a subsidiary of EDF, with an option to increase this stake to 75% by 2027. This deal aims to integrate MARA’s infrastructure with AI and edge solutions.
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MARA has also inaugurated its European headquarters in Paris, underscoring its commitment to sustainability, grid partnerships, and the repurposing of unused energy.
Stock Performance
On Thursday, MARA shares dropped by 5% and have decreased by 14% year to date.
