MARA Utilizes 16% Bitcoin Reserves to Boost Revenue

Marathon Digital Holdings (MARA), one of the largest publicly traded Bitcoin mining firms in the U.S., has lent 7,377 BTC—approximately 16% of its total reserves—to third parties to generate yield. The company revealed this move in a production update on Friday, stating that the loans are short-term arrangements with established third parties.

MARA aims to generate enough yield to cover operating expenses, according to Robert Samuels, the company’s Director of Investor Relations. The program offers a modest single-digit yield and has been operational throughout 2024. 

While MARA did not disclose the identities of the borrowers, the lending initiative has drawn significant interest, especially in light of the collapse of major Bitcoin lenders like BlockFi and Celsius in 2022.

As of December 31, MARA held 44,893 BTC in reserves, valued at approximately $4.4 billion. Throughout 2024, the company mined 9,457 BTC and purchased an additional 22,065 BTC at an average price of $87,205.

In Q3 2024, MARA earned $3.9 million in interest income, primarily from cash and Bitcoin loans. This figure adds to the $4.8 million earned in the first half of the year, with Bitcoin lending income becoming a notable contributor.

On the operational front, MARA achieved a hashrate of 53 EH/s by year-end, with a realized hashrate of 47 EH/s, maintaining strong performance.

Also Read: MicroStrategy Plans to Raise $2B for Bitcoin Investments

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