MARA Announces Bitcoin Production and Mining Operation Updates for September 2024

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Fort Lauderdale, FL, Oct. 02, 2024 — MARA (NASDAQ: MARA), a leading global Bitcoin mining company, has released its unaudited BTC production updates for September 2024, showcasing significant operational growth and strategic advancements.

Key Highlights

Management Commentary

Fred Thiel, MARA's Chairman and CEO, emphasized the company’s progress:

"September demonstrated the resilience of our diversified operations, with improved uptime and a 5% rise in energized hash rate. We produced 705 BTC, a 5% increase from August, and now hold nearly 27,000 BTC. Our target of 50 EH/s by year-end 2024 remains on track, supported by efficient site expansions and the ongoing conversion of our Granbury facility to immersion cooling."

Thiel also highlighted MARA’s commitment to sustainability:

"As the first digital asset compute company to submit a Climate Disclosure Project (CDP) report, we’re advancing environmental transparency and corporate responsibility."

Operational Breakdown

September 2024 Performance Metrics

| Metric | Sep 2024 | Aug 2024 | Change |
|-----------------------------|----------|----------|--------|
| Blocks Won | 207 | 196 | +6% |
| BTC Produced | 705 | 673 | +5% |
| Avg. Daily BTC Production | 23.5 | 21.7 | +8% |
| Energized Hash Rate (EH/s) | 36.9 | 35.2 | +5% |

Notes:


Strategic Updates

  1. Hash Rate Expansion: On track to achieve 50 EH/s by December 2024.
  2. Granbury Facility Upgrade: Immersion-cooling conversion progressing as planned.
  3. BTC Treasury: No BTC sold in September; holdings now exceed 26,842 BTC.

👉 Explore MARA’s latest innovations in sustainable Bitcoin mining


Investor Notice

Investing in MARA involves risks, including market volatility and operational challenges. For detailed risk factors, review our SEC filings. Forward-looking statements are based on current expectations and may change due to unforeseen circumstances.


FAQs

Q: What drove MARA’s hash rate increase in September?
A: Improved site efficiency and accelerated deployment of mining hardware contributed to the 5% rise.

Q: How does MARA’s BTC production compare to industry averages?
A: MARA earned 5.2% of network rewards, outperforming its August share of 4.8%.

Q: Why did MARA retain all BTC mined in September?
A: The company prioritizes long-term BTC accumulation as part of its treasury strategy.

👉 Learn more about MARA’s sustainability initiatives


About MARA
MARA (NASDAQ: MARA) is a pioneer in digital asset compute, leveraging innovative technology to support blockchain security and sustainable energy solutions.

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Released October 2, 2024