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
- Energized Hash Rate: Increased 5% to 36.9 EH/s.
- Block Wins: 207 blocks secured, a 6% month-over-month (M/M) increase.
- BTC Holdings: Expanded to 26,842 BTC, reinforcing the company’s long-term treasury strategy.
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:
- Transaction Fees: Comprised 1.7% of total rewards (vs. 2.7% in August).
- Miner Reward Share: 5.2% of available network rewards.
Strategic Updates
- Hash Rate Expansion: On track to achieve 50 EH/s by December 2024.
- Granbury Facility Upgrade: Immersion-cooling conversion progressing as planned.
- 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.
Contact:
- Investor Relations: [email protected]
- Media Inquiries: [email protected]
Released October 2, 2024