MARA lends 7,377 BTC in 2024 to offset mining costs

MARA, the Bitcoin (CRYPTO:BTC) mining company formerly known as Marathon Digital, lent out 7,377 BTC to third parties in 2024, according to a January 3 announcement.

The company has emphasised that its Bitcoin lending program focuses on short-term arrangements with well-established third parties, generating a modest yield in the single digits.

MARA's Vice President of Investor Relations, Robert Samuels, provided further details, stating that the lending activity has been ongoing throughout 2024.

The initiative aims to generate income to help cover operational expenses associated with Bitcoin mining.

Mining is a resource-intensive business, particularly since the Bitcoin halving event in April 2024 reduced the block reward to 3.125 BTC per mined block, intensifying the financial pressure on miners.

Despite these challenges, MARA made significant strides in its mining capabilities.

In December 2024, the company achieved a milestone of 50 exahashes per second (EH/s) in computing power and subsequently surpassed it, reaching 53.2 EH/s.

The company also acquired 22,065 BTC in 2024, at an average price of $87,205 per coin, and mined an additional 9,457 BTC.

As of January 2025, MARA's total Bitcoin holdings stand at 44,893 BTC.

In addition to its mining activities, MARA raised $1.9 billion through two senior convertible note offerings in late 2024.

The proceeds were used to purchase 15,574 BTC for its corporate treasury.

MARA’s aggressive acquisition strategy and pursuit of Bitcoin as a treasury reserve asset have garnered attention in the industry.

MicroStrategy co-founder Michael Saylor recently suggested that MARA could be the next Bitcoin-focused company to join the Nasdaq 100 index.

At the time of reporting, the Bitcoin (BTC) price was $98,919.73.