MARA's Record Production in May: 950 BTC Worth Over $100 Million
MARA Holdings (NASDAQ: MARA) announced that it mined 950 Bitcoin in May 2025, valued at over $100 million at current prices. This marks a 35% increase from April and the highest monthly output since the April 2024 halving. Importantly, MARA did not sell any Bitcoin during the month. Chairman and CEO Fred Thiel stated, 'May was a record-breaking month for MARA with 282 blocks won, a 38% increase over April and a new monthly high. Our total bitcoin holdings surpassed 49,000 BTC during May and the 950 bitcoin produced were the most since the halving event in April 2024.' As of the report, MARA holds 49,179 BTC worth approximately $5.23 billion.
Proprietary Mining Pool and Operational Efficiency
MARA's fully integrated tech stack is a key differentiator. MARA Pool is the only self-owned and operated mining pool among public miners, offering greater control and efficiency. Thiel commented, 'Operating our pool means no fees to external operators and retention of the full value of block rewards. Production in May also benefitted from block reward luck. Since launch, MARA Pool’s block reward luck has outperformed the network average by over 10%, contributing to our industry-leading block production.' Energized hashrate rose 2% from 57.3 EH/s to 58.3 EH/s. Average daily Bitcoin production reached 30.7 BTC in May, 31% higher than April. MARA is transforming into a vertically integrated digital energy and infrastructure company to enhance operational control, cost-efficiency, and resilience to economic shifts.
Q1 2025 Earnings Review: Revenue Up 30%, Holdings Surge 174%
On May 8, 2025, MARA released its first-quarter 2025 earnings. Revenue came in at $213.9 million, a 30% increase year-over-year. Bitcoin holdings surged 174% YoY from 17,320 BTC to 47,531 BTC as of March 31, with an estimated value of $3.9 billion. In Q1, MARA mined 2,286 BTC and acquired an additional 340 BTC. Operational performance strengthened with energized hashrate nearly doubling from 27.8 EH/s to 54.3 EH/s, and cost per petahash per day improving by 25%.