Share this article
BTC
$94,629.53
+
1.48%ETH
$1,795.90
+
1.58%USDT
$1.0004
-
0.00%XRP
$2.1908
+
0.34%BNB
$601.70
-
0.66%SOL
$150.81
-
0.74%USDC
$0.9999
-
0.01%DOGE
$0.1859
+
3.18%ADA
$0.7172
+
0.46%TRX
$0.2442
+
0.35%SUI
$3.6230
+
4.89%LINK
$15.05
+
0.57%AVAX
$22.40
+
1.19%XLM
$0.2899
+
4.23%SHIB
$0.0₄1464
+
5.59%LEO
$9.0600
-
2.05%HBAR
$0.1950
+
4.09%TON
$3.2247
+
0.30%BCH
$373.92
+
3.58%LTC
$86.87
+
3.53%MARA Holdings Lends Out 7,377 BTC to Generate Single Digit Yield
The bitcoin miner holds 44,893 BTC on its balance sheet, it said in a production report.
What to know:
- MARA Holdings is lending out 7,377 BTC, about 16% of its total holdings.
- December bitcoin product fell 2% from November to 890 BTC, still the second-biggest output since April.
- MARA, the largest bitcoin miner by market capitalization, now owns a total of 44,893 BTC, valued at $4.2 billion.
MARA Holdings (MARA), the largest bitcoin (BTC) miner by market capitalization, said it is lending 7,377 BTC to third parties to generate a return on its holdings and cover some operating costs.
In a production report released Friday, MARA did not identify the borrowers nor reveal other details regarding the program, which ties up about 16% of its bitcoin. Robert Samuels, the company's vice president of investor relations, said in a post on X that it is earning a yield of less than 10%.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"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".
The company produced 890 bitcoin last month, 2% fewer than in November, the production report shows. Still, it's the second-biggest number of BTC since April's reward halving.
"We mined 249 blocks, the second most blocks in a month on record," Chairman and CEO Fred Thiel said in the report. "MARAPool achieved an impressive annual hash rate growth of 168% in 2024, exceeding bitcoin's network growth rate of 49%".
For all of 2024, MARA acquired 22,065 BTC at an average price of $87,205 and mined an additional 9,457 BTC taking its total held to 44,893 BTC. Bitcoin is currently trading just below $100,000. The company is the second-biggest publicly traded owner of bitcoin, trailing only MicroStrategy (MSTR).
MARA shares rose 2.60% in pre-market trading and have 14% since the start of the year.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
