MARA's Bitcoin Stash Swells to 52,477 BTC After August Mining
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MARA Boosts Bitcoin Holdings After August Production
Marathon Digital Holdings (MARA) announced a significant increase in its Bitcoin holdings, reaching 52,477 BTC as of August 31. This follows the company's successful mining of 705 BTC during the month.
Key Highlights:
- Bitcoin Production: MARA mined 705 BTC in August.
- Network Share: The company secured a 4.9% share of network rewards, mining 208 blocks.
- Hashrate Increase: Energized hashrate saw a 1% rise, reaching 59.4 exahashes per second (EH/s).
- Strategic Accumulation: MARA chose not to sell any BTC in August, leveraging the price dip to increase its reserves.
August saw Bitcoin's price decline by over 6%, marking its worst monthly performance since February. This downturn presented MARA with an opportunity to bolster its Bitcoin treasury.
"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.
Expansion and Future Plans:
- Texas Wind Farm: MARA is on track to finalize its Texas wind farm buildout by Q4, with all miners on-site and connected.
- International Ventures: The company has entered an agreement to acquire a 64% stake in Exaion, an EDF subsidiary, with a potential increase to 75% by 2027. This deal focuses on integrating MARA’s infrastructure with AI and edge solutions.
- European Presence: MARA inaugurated its European headquarters in Paris, emphasizing its dedication to sustainability, grid partnerships, and the reuse of unused energy.
Despite these developments, MARA shares experienced a 5% decrease on Thursday and are currently down 14% year-to-date.