Marathon Digital Holdings (MARA) is making waves in the crypto world. They now hold a staggering 52,477 Bitcoin, worth roughly $6 billion! This makes them the second-largest public company holding Bitcoin, only behind Michael Saylor’s firm.
Mining and Treasury Growth
In August alone, Marathon mined over 700 Bitcoin, averaging 22.7 BTC per day. Even with Bitcoin’s price dipping around 5% that month (peaking near $124,400 and settling around $107,000), Marathon chose to buy more Bitcoin, increasing their reserves. CEO Fred Thiel stated, “Given the decline in Bitcoin price during the month, we took the opportunity to add to our treasury and currently hold over 52,000 BTC.”
Hashrate and Operations
Marathon’s hashrate (a measure of their mining power) climbed to 59.4 EH/s. Their Texas wind farm is fully installed and on track to be fully operational by the end of 2025. Mining output has also been strong, increasing from 591 BTC in June to 705 BTC in August.
Among the Top Bitcoin Holders
Marathon’s massive Bitcoin holdings place them firmly among the top public companies. While Michael Saylor’s company still leads with approximately 636,505 BTC, Marathon significantly outpaces other major players like Twenty One (43,514 BTC), Bitcoin Standard Treasury Company (30,020 BTC), and Bullish (24,000 BTC). It’s worth noting that Marathon shareholders have enjoyed a 700% return over the past five years, despite recent market volatility.
Expansion and Future Plans
Marathon isn’t just focused on Bitcoin mining. They’re expanding into other areas. They’ve announced plans to acquire a significant stake in Exaion, an EDF (French energy company) subsidiary, aiming to leverage AI and lower costs, particularly in Europe’s growing AI market.
In short, Marathon Digital is becoming a major player in the Bitcoin space, solidifying its position as a leading public company in Bitcoin holdings and expanding its business beyond just mining.