TLDR
- MARA increases its Bitcoin holdings to 52,477 BTC, solidifying its position as a top miner.
- The firm mined 705 BTC in August, capturing 4.9% of total Bitcoin miner rewards.
- MARA remains the largest public Bitcoin holder, second only to Michael Saylor’s firm.
- Despite Bitcoin price fluctuations, MARA strategically added to its Bitcoin treasury in August.
MARA has expanded its Bitcoin holdings, reaching 52,477 BTC, valued at approximately $5.9 billion, according to its latest monthly production update. This marks a notable increase in its holdings as the firm continues to strengthen its position as the largest public bitcoin miner. The update also highlights MARA’s production of 705 BTC in August, which represents a slight increase over July’s total of 703 BTC.
August Bitcoin Production and Market Share
In August, MARA mined a total of 705 BTC, worth around $79.2 million. This was a marginal increase from the 703 BTC it mined in July, showing a 0.3% growth in its mining operations. During this period, MARA captured 4.9% of all Bitcoin miner rewards, including transaction fees, positioning itself as a significant player in the mining sector.
MARA’s production remained steady, even as the global Bitcoin hashrate rose by 6% month-over-month to an average of 949 EH/s. The company’s consistent mining efforts helped maintain its dominant position as the largest Bitcoin holder among public miners. Its substantial treasury includes bitcoin that is loaned, actively managed, or pledged as collateral, further solidifying MARA’s strong market standing.
MARA’s Position Among Bitcoin Holders
As of now, MARA remains the second-largest public Bitcoin holder overall, behind Michael Saylor’s Strategy. Saylor’s firm added another $449.3 million worth of Bitcoin, bringing its total holdings to 636,505 BTC, valued at $72 billion. Despite MARA’s substantial Bitcoin stack, it remains second to Saylor’s firm in terms of total BTC holdings.
The other notable public Bitcoin holders include Tether-backed Twenty One, Bitcoin Standard Treasury Company, and Bullish. These companies hold 43,514 BTC, 30,021 BTC, and 24,000 BTC, respectively. However, despite being behind in total holdings, MARA’s position as the largest public miner highlights its growing importance in the Bitcoin ecosystem.
Bitcoin Price Fluctuations and Strategic Purchases
Despite a volatile month for Bitcoin, MARA capitalized on market conditions to increase its holdings. Bitcoin reached a high of approximately $124,500 on August 14 before falling by 13.7% to a low of around $107,500. Today, Bitcoin is trading at $110,915, reflecting a slight 0.30% decline in the last 24 hours and a 2.23% increase over the past week.
MARA’s Chairman and CEO, Fred Thiel, indicated that the company took advantage of the price decline in August to strategically add to its Bitcoin treasury. This decision allowed the company to further solidify its position as a major player in the public mining sector.
