MARA Bitcoin Nears $6 Billion Only Strategy in Public Rankings

TLDR

Table of Contents

MARA now holds 52,477 BTC worth $5.9B, making it the second-largest public Bitcoin holder globally.
Despite a 6% price dip, MARA mined 705 BTC in August, averaging 22.7 BTC per day.
MARA’s hashrate rose to 59.4 EH/s, with Texas wind farm miners fully installed.
Strategy leads public BTC treasuries with 636,505 BTC, ahead of MARA’s 52,477 BTC.

Marathon Digital Holdings (MARA) has expanded its Bitcoin reserves to 52,477 BTC, now worth around $5.9 billion. This makes the company the second-largest public holder of Bitcoin, behind only Michael Saylor’s Strategy, which continues to lead by a wide margin. Despite a drop in Bitcoin’s price during August, MARA continued to build its treasury through mining and strategic accumulation.

Bitcoin Holdings Reach Record Level for a Public Miner

MARA announced it now holds 52,477 BTC, which is valued at approximately $5.9 billion as of August 31. This places the company just behind Strategy in global public Bitcoin treasury rankings. Strategy recently revealed it holds 636,505 BTC following its latest purchase of $449.3 million worth of Bitcoin.

Marathon mined 705 BTC during August, averaging 22.7 BTC per day. This was achieved even as the price of Bitcoin fell 6% over the month. The cryptocurrency hit a high of $124,500 before falling to $107,000, prompting the company to increase its holdings instead of selling.

“Given the decline in Bitcoin price during the month, we took the opportunity to add to our treasury,” said MARA CEO Fred Thiel. The company’s approach continues to focus on long-term accumulation and operational growth, maintaining its position as a leader in public Bitcoin mining.

Mining Expansion and Infrastructure Growth

MARA reported that its energized hashrate reached 59.4 EH/s in August. This marks an increase in capacity as the company pushes forward with infrastructure development. All miners at its Texas wind farm site are now installed and connected, contributing to this expansion.

The firm aims to have the Texas facility fully operational by Q4 2025. Thiel noted that MARA’s infrastructure strategy is focused on combining renewable energy with efficient mining systems to reduce operational risks and increase consistency.

In July, the company also recovered output at its Ellendale site, boosting monthly production from 591 BTC in June to 692 BTC. This upward trend in mining volume has supported the steady increase in treasury holdings.

Global Expansion and Long-Term Strategy

MARA is also looking beyond mining with moves into international markets and AI-driven operations. The company recently acquired a 64% stake in Exaion, a subsidiary of the French energy company EDF. It also holds an option to raise its ownership to 75% by 2027.

The acquisition is aimed at merging MARA’s mining infrastructure with edge computing and AI capabilities. This may help reduce costs and provide support for growing demand in Europe’s tech and energy sectors.

To support this global shift, MARA has opened a new European headquarters in Paris. The move reflects its interest in sustainability and making use of underutilized energy resources. It also gives MARA a stronger position in European markets as it grows beyond the U.S.

Over the past five years, MARA has delivered a 699% return to shareholders. However, recent performance has faced challenges due to fluctuations in Bitcoin’s price and high operating costs, which remain a focus area as the company scales.

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