MARA Holdings (MARA), the leading Bitcoin miner by market capitalization, announced that it is lending 7,377 BTC to various third parties to generate returns on its holdings and support operating costs.
In a recent production report, MARA did not specify the borrowers nor provide further details about the lending program, which constitutes about 16% of its total Bitcoin holdings. According to Robert Samuels, MARA's Vice President of Investor Relations, the company is securing a yield of less than 10%.
There has been significant interest in MARA's bitcoin lending program. It focuses on short-term arrangements with well-established third parties. It generates a modest single-digit yield. It has been active throughout 2024. The long-term objective is to generate sufficient yield to offset operating expenses.
The company produced 890 BTC last month, a slight decrease of 2% from November, yet still the second-largest production since the April reward halving.
Fred Thiel, the Chairman and CEO, commented on the production, stating:
We mined 249 blocks, the second most blocks in a month on record. MARAPool achieved an impressive annual hash rate growth of 168% in 2024, exceeding Bitcoin's network growth rate of 49%.
In 2024, MARA acquired 22,065 BTC at an average price of $87,205 and mined an additional 9,457 BTC, leading to a total holding of 44,893 BTC, valued at around $4.2 billion. Currently, Bitcoin trades just below $100,000. MARA is now the second-largest publicly traded Bitcoin holder, behind MicroStrategy (MSTR).
MARA shares rose 2.60% in pre-market trading and have appreciated 14% since the beginning of the year.