Marathon Digital Holdings (MARA) Lends 7,377 BTC to Third Parties to Generate Yield

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.

Marathon Digital Holdings (MARA), a major publicly traded Bitcoin mining firm in the United States, has allocated a portion of its vast BTC reserves to third parties in a bid to generate yield. According to an update on Friday, MARA has lent out 7,377 BTC, which constitutes roughly 16% of its total BTC reserves.

The company revealed that these loans are short-term arrangements with established third parties. The initiative aims to generate sufficient yield to cover operating expenses, as stated by Robert Samuels, MARA'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, this lending initiative has garnered attention, particularly in the wake of the collapse of major crypto lenders 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.

notably, Bitcoin lending income became a significant contributor, as the company earned $3.9 million in interest income in Q3 2024, primarily from cash and Bitcoin loans. This figure adds to the $4.8 million earned in the first half of the year.

On the operational front, MARA achieved a hashrate of 53 EH/s by year-end, with a realized hashrate of 47 EHs, maintaining strong performance throughout 2024.