MARA's Record Hash Rate Drives Crypto Mining Performance, Bitcoin Holdings Reach $4.2B

In December 2024, MARA Holdings surpassed its hash rate target after reporting a solid month of Bitcoin production, marking a significant milestone in its mining operations. The company posted an impressive 168% growth in its annual hash rate. In December, MARA achieved a record-breaking 53.2 exahashes per second (EH/s), surpassing its 50 EH/s target.

Record Hash Rate Milestone

According to the company, this achievement represents a 15% improvement from the previous month, boosted by increased investment in mining equipment. Despite this increase in hash rate, Bitcoin production experienced a 2% decline, totaling 890 BTC for the month. Despite the decrease, the company's overall performance remained strong.

MARA's hybrid approach, combining Bitcoin mining and strategic purchases, reportedly improved the firm's performance. In 2024, the company acquired 22,065 BTC at an average price of $87,205 per coin, alongside the 9,457 BTC it mined.

By the end of the year, MARA's total Bitcoin holdings had grown to 44,893 BTC, valued at approximately $4.2 billion at the current spot price of $93,354 per BTC. Notably, the company had also loaned out 7,377 BTC to third parties, generating additional returns for its stakeholders.

Another great month to close out a really great year by team MARA! 53EH energized and nearly 45,000 bitcoin on the balance sheet. Great work team! 2025 is going to be an even bigger year of continued growth as we continue to vertically integrate our technology stack, increase… https://t.co/yYJd3UxISb

Significant Growth in MARAPool's Hash Rate

Fred Thiel, MARA's CEO, highlighted the flexibility of this hybrid strategy, stating, “As a miner that mines and buys Bitcoin, the hybrid approach provides us significant flexibility to acquire Bitcoin at attractive prices. It further allows us to capitalize on market conditions by buying BTC during price declines, optimizing our acquisition cost.”

The company's efforts to expand its mining fleet and optimize its performance have also paid off, with its internal mining pool, MARAPool, showing impressive growth.

It achieved a 168% increase in hash rate during 2024, outpacing the growth rate of Bitcoin's network itself, which was 49%. According to the company, these results highlight the effectiveness of MARA's strategy to strengthen its position in the industry while boosting its operations.

As of December 31, 2024, MARA's total Bitcoin holdings comprised both mined and purchased assets. The company continued to capitalize on favorable market conditions to increase its reserves further, it explained.