MARA Bitcoin Lending Program Offers Single-Digit Yields
In order to make additional revenues in 2024, the bitcoin mining firm MARA—formerly known as Marathon Digital—lent out 7,377 Bitcoin (BTC). In a recent statement, the company stated that the lending was meant to help with the running expenses of its energy-intensive mining activities. Short-term agreements with trustworthy third parties are the main emphasis of MARA’s Bitcoin loan program, according to Robert Samuels, vice president of investor relations. Samuels said that the program has been in operation since 2024 and provides a small single-digit yield. He did not, however, elaborate on the counterparties or the financial returns in question.
MARA Surpasses 50 EH/s, Solidifying Leadership in Bitcoin Mining
The lending initiative is a component of MARA’s larger plan to deal with the difficult mining environment. Miners are under more pressure to streamline processes and preserve profitability as a result of the April 2024 halving of Bitcoin, which reduced block rewards to 3.125 BTC. As the first publicly traded mining firm to achieve 50 exahashes per second (EH/s) in computing power, MARA has established itself as a pioneer in the sector. The company recorded an energetic hash rate of 53.2 EH/s at the end of the year.
On the other hand, MARA’s Bitcoin holdings have grown significantly in addition to its lending activities. In 2024, the corporation mined 9,457 BTC and bought 22,065 BTC at an average price of $87,205 per coin, increasing its total reserves to 44,893 BTC. MARA issued two zero-interest senior convertible note offers with maturities of 2030 and 2031 in order to obtain $1.9 billion to finance these acquisitions.
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