MARA Holdings Surpasses Hash Rate Target, Achieves Record-Breaking 53.2 EH/s in December 2024

The company posted an impressive 168% growth in its annual hash rate. In December, MARA achieved a record-breaking 53.2 exahashes per second (EH/s), surpassing its 50 EH/s target.

MARA Holdings, Inc. (NASDAQ:MARA) has achieved a record-breaking milestone in its Bitcoin mining operations, surpassing its hash rate target and posting a 15% month-over-month increase.

In December 2024, the company attained an average hash rate of 53.2 exahashes per second (EH/s), exceeding its goal of 50 EH/s and achieving a 168% growth in its annual hash rate. This remarkable achievement was driven by MARA's continuous investment in mining equipment and its dedication to enhancing its mining capabilities.

Despite this increase in hash rate, Bitcoin production saw a 2% decline, totaling 890 BTC for the month. However, the company's overall performance remained strong throughout the year, with a hybrid approach that combines Bitcoin mining with strategic purchases to optimize the firm's performance.

In 2024, MARA acquired 22,065 BTC at an average price of $87,205 per coin, which, together with the 9,457 BTC mined by the company, brought its total Bitcoin holdings to 44,893 BTC.

With the value of each Bitcoin standing at $93,354 as of March 14, 2025, at the current spot price, MARA's total Bitcoin holdings were valued at approximately $4.2 billion at the end of the year.

The company also loaned out 7,377 BTC to third parties, generating additional returns for its stakeholders.

"Another great month to close out a really great year by team MARA!" Thiel exclaimed. "53EH energized and nearly 45,000 bitcoin on the balance sheet. Great work team! 2025 is going to be an even bigger year of continued growth as we continue to vertically integrate our technology stack, increase…”

Highlighting the flexibility of this hybrid strategy, Fred Thiel, MARA's CEO, said, "As a miner that mines and buys Bitcoin, the hybrid approach provides us significant flexibility to acquire Bitcoin at attractive prices. It further allows us to capitalize on market conditions by buying BTC during price declines, optimizing our acquisition cost."

MARA's efforts to expand its mining fleet and optimize its performance also paid off, with its internal mining pool, MARAPool, showing impressive growth.

During 2024, it achieved a 168% increase in hash rate, outpacing the growth rate of Bitcoin's network itself, which was 49%. These results showcase the effectiveness of MARA's strategy to strengthen its position in the industry and boost its operations.

As of December 31, 2024, MARA's total Bitcoin holdings comprised both mined and purchased assets. The company continued to capitalize on favorable market conditions to increase its reserves further, it explained.