MARA Breaks 50,000 BTC Threshold, Stock Rallies
MARA Holdings (NASDAQ: MARA) released its July 2025 operational update on July 2, revealing that its total bitcoin holdings exceeded 50,000 BTC for the first time. The stock rose 2.81% on the day. In July, the company mined 703 BTC, a 1% decrease from June's 713 BTC, citing a 9% increase in bitcoin mining difficulty and a continued climb in global hashrate.
Chairman and CEO Fred Thiel stated: “In July, our production saw a 2% month-over-month decrease in blocks won as global hashrate rebounded following seasonal curtailment and mining difficulty was 9% higher than the end of June. Our bitcoin holdings surpassed 50,000 BTC in July, a milestone that solidifies MARA as the second-largest publicly traded holder of bitcoin globally. More importantly, this is a treasury we built through disciplined infrastructure development, scaled operations, and focused execution.”
Hashrate Growth and Site Efficiency Gains
Despite the slight production dip, MARA's energized hashrate increased by 3% month-over-month to 58.9 EH/s. The company is preparing to begin energizing the data center at its Texas wind farm in the second half of 2025. Thiel added: “Although we encountered higher than expected curtailment at our Ohio sites, our teams improved operational efficiency at Wolf Hollow and Kearney by boosting productivity and streamlining the supply chain.”
As of July 31, 2025, MARA holds 50,639 BTC, including loaned and pledged assets. The company also holds over $5 billion in liquid assets (as of June 30) and has raised nearly $1 billion since that date, providing flexibility for domestic growth and international expansion.
Strategic Approach to Bitcoin as a Productive Asset
Thiel emphasized that MARA treats its bitcoin as a productive, risk-managed asset, not just a passive treasury holding. “Through a disciplined asset management strategy, our holdings strengthen the balance sheet and help fund operations, which we believe will enhance long-term shareholder value. We don’t just hold bitcoin, we put it to work.”
MARA now ranks as the second-largest publicly traded bitcoin holder globally, behind MicroStrategy. The achievement underscores the company's leadership in both mining and corporate bitcoin treasury management, built through infrastructure investment and operational efficiency.