Bitcoin mining company MARA Holdings (MARA) achieved a remarkable milestone in May 2024, producing a total of 950 BTC — a 35% jump from April and its strongest mining output since the recent Bitcoin halving. This surge highlights MARA’s growing efficiency and strategic advantages in the competitive crypto mining landscape.
The company’s internal record for blocks mined also reached new heights, with 282 blocks won in May — a significant 38% increase over April. CEO Fred Thiel credits these impressive results to MARA’s vertically integrated technology infrastructure and its self-managed MARA Pool. “Operating our own pool means we retain all block rewards without sharing fees with third parties,” Thiel explained. Since its launch, MARA Pool has outperformed the Bitcoin network’s average block reward luck by over 10%, demonstrating its effectiveness.
In terms of hashing power, MARA’s hashrate in May increased slightly to 58.3 EH/s, reflecting ongoing operational improvements. Its share of available miner rewards also grew to 6.5%, up from 5.1% in April. Transaction fees contributed 1.5% of the total rewards — a marginal rise compared to the previous month, further boosting overall profitability.
MARA maintained its Bitcoin holdings throughout May, holding onto approximately 49,179 BTC as of month-end and choosing not to sell any, thus strengthening its balance sheet. As a result, MARA’s stock saw a 5.5% increase on Tuesday trading, aligning with Bitcoin’s price rally above $106,000.
This strong performance underscores MARA’s resilience and strategic positioning in the ever-evolving crypto mining industry, emphasizing its commitment to growth and profitability amid fluctuating market conditions.
