MARA reports January bitcoin production declined 12%, holding 45,659 BTC, while aiming to optimize mining efficiency.
Quiver AI Summary
MARA (NASDAQ: MARA) announced a 12% month-over-month decline in bitcoin production for January 2025, with the company winning 218 blocks and producing 750 BTC. This drop is attributed to network difficulty fluctuations and intermittent curtailments following a busy end to 2024, where over 100,000 miners were relocated and brought online. The energized hashrate remained stable, as no new miners were added during January. MARA is focusing on optimizing its mining fleet, completing conversions to immersion cooling systems at its Texas facility, and nearing full conversion to more efficient miners in Nebraska. The company plans to expand its mining capacity in 2025 and improve energy efficiency.
Potential Positives
- Increased BTC holdings to 45,659 BTC, signaling a robust investment in digital assets.
- Completed the conversion of over 230 containers to immersion cooling, enhancing efficiency and improving hashrate without additional power consumption.
- Expressed commitment to expanding mining capacity in 2025, indicating growth potential and strategic focus on industry leadership.
Potential Negatives
- The 12% month-over-month decrease in blocks won raises concerns about the company's operational performance and ability to adapt to network changes.
- The significant decline in both BTC produced (13% decrease) and average BTC produced per day (13% decrease) indicates a potential issue with mining efficiency and overall productivity.
- The warning regarding high-risk factors in investing suggests that investors should exercise caution, which may deter potential investment interest and affect stock performance.
FAQ
What was MARA's production change in January 2025?
MARA experienced a 12% month-over-month decline in blocks won, producing 218 blocks in January.
How many BTC does MARA currently hold?
MARA increased its holdings to 45,659 BTC as of January 2025.
What operational upgrades has MARA implemented recently?
MARA completed the conversion of over 230 containers to immersion cooling, enhancing efficiency and hashrate without additional power consumption.
What are MARA's future plans for mining capacity?
MARA is committed to expanding its mining capacity in 2025, focusing on near net zero cost energy solutions.
Where can I find more information about MARA's financial performance?
Detailed financial information and updates can be found in MARA's periodic reports filed with the SEC.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MARA Insider Trading Activity
$MARA insiders have traded $MARA stock on the open market 17 times in the past 6 months. Of those trades, 0 have been purchases and 17 have been sales.
Here’s a breakdown of recent trading of $MARA stock by insiders over the last 6 months:
- FREDERICK G THIEL (Chief Executive Officer) has made 0 purchases and 5 sales selling 137,532 shares for an estimated $2,599,607.
- SALMAN HASSAN KHAN (Chief Financial Officer) has made 0 purchases and 4 sales selling 66,800 shares for an estimated $1,277,550.
- JAY P LEUPP has made 0 purchases and 2 sales selling 18,000 shares for an estimated $506,392.
- DOUGLAS K MELLINGER has made 0 purchases and 6 sales selling 6,000 shares for an estimated $113,680.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MARA Hedge Fund Activity
We have seen 182 institutional investors add shares of $MARA stock to their portfolio, and 155 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JANE STREET GROUP, LLC removed 5,546,373 shares (-80.3%) from their portfolio in Q3 2024, for an estimated $89,962,170
- VANGUARD GROUP INC added 3,785,174 shares (+11.7%) to their portfolio in Q3 2024, for an estimated $61,395,522
- DIMENSIONAL FUND ADVISORS LP removed 3,033,079 shares (-93.7%) from their portfolio in Q3 2024, for an estimated $49,196,541
- AMERICAN CENTURY COMPANIES INC added 2,776,540 shares (+12084.0%) to their portfolio in Q3 2024, for an estimated $45,035,478
- BLACKROCK, INC. added 2,194,046 shares (+5.1%) to their portfolio in Q3 2024, for an estimated $35,587,426
- INVESCO LTD. added 1,311,906 shares (+56.4%) to their portfolio in Q3 2024, for an estimated $21,279,115
- MILLENNIUM MANAGEMENT LLC removed 1,265,239 shares (-94.9%) from their portfolio in Q3 2024, for an estimated $20,522,176
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
218
Blocks Won in
January,
12%
Decrease
M/M
Increased
BTC Holdings to 45,659 BTC
Fort Lauderdale, FL, Feb. 03, 2025 (GLOBE NEWSWIRE) -- MARA (NASDAQ: MARA ) ("MARA" or the "Company") , a global leader in leveraging digital asset compute to support the energy transformation, today published unaudited bitcoin (“BTC”) production and mining operation updates for January 2025.
Management Commentary
"In January, our production saw a 12% month-over-month decline in blocks won, largely due to fluctuations in network difficulty and intermittent curtailment," said Fred Thiel, MARA's chairman and CEO. "After a very busy end of 2024 during which we relocated and brought online over 100,000 miners, our energized hashrate remained consistent with December, as no new miners were brought online during the month.
"We remain focused on optimizing our fleet and implementing strategic enhancements to drive long-term efficiency and performance. At Wolf Hollow, Texas, we successfully completed the conversion of over 230 containers to immersion cooling, achieving high uptime with our S21 Pro immersion miners. These fleet upgrades not only enhance efficiency but also increase hashrate without additional power consumption. Meanwhile, at our Kearney, Nebraska site, we are nearing full conversion to S21 Pros, which we expect to improve fleet efficiency significantly.
"Looking ahead, we are committed to expanding our mining capacity in 2025 and further strengthening our position as a leader in the BTC mining industry. Our strategy will prioritize near net zero cost energy solutions, and we look forward to sharing more on our earnings call at the end of the month."
Operational Highlights and Updates
Figure 1: Operational Highlights
Prior Month Comparison | |||||||||
Metric | 1/31/2025 | 12/31/2024 | % Δ | ||||||
Number of Blocks Won 1 | 218 | 249 | (12) % | ||||||
BTC Produced 2 | 750 | 865 | (13)% | ||||||
Average BTC Produced per Day | 24.2 | 27.9 | (13)% | ||||||
Share of available miner rewards 3 | 5.1 | % | 5.9 | % | NM | ||||
Transaction Fees as % of Total 1 | 1.6 | % | 2.7 | % | NM | ||||
Energized Hash Rate (EH/s) 1 | 53.2 | 53.2 | — | % |
- These metrics are MARAPool only and do not include blocks won from joint ventures.
- Includes our share of production from joint venture partnerships.
-
Defined as the total amount of block rewards including transaction fees that MARA earned during the period divided by the total amount of block rewards and transaction fees awarded by the Bitcoin network during the period.
NM - Not Meaningful
Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under the heading "Risk Factors" in our most recent annual report on Form 10-K and any other periodic reports that we may file with the U.S. Securities and Exchange Commission (the “SEC”). If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below.
The operational highlights and updates presented in this press release pertain solely to our BTC mining operations. Detailed information regarding our other operations can be found in our periodic reports filed with the SEC.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The words "may," "will," "could," "anticipate," "expect," "intend," "believe," "continue," "target" and similar expressions or variations or negatives of these words are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among other things, statements related to our strategy, expected improvements in miner fleet efficiency and expansion of mining capacity in 2025. Such forward-looking statements are based on management's current expectations about future events as of the date hereof and involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Subsequent events and developments, including actual results or changes in our assumptions, may cause our views to change. We do not undertake to update our forward-looking statements except to the extent required by applicable law. Readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements included herein are expressly qualified in their entirety by these cautionary statements. Our actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, including, but not limited to, the factors set forth under the heading "Risk Factors" in our most recent annual report on Form 10-K, and any other periodic reports that we may file with the SEC.
About MARA
MARA (NASDAQ:MARA) is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. MARA secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value.
For more information, visit www.mara.com , or follow us on:
Twitter:
@MARAHoldings
LinkedIn:
www.linkedin.com/company/maraholdings
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www.facebook.com/MARAHoldings
Instagram:
@maraholdingsinc
MARA Company Contact:
Telephone: 800-804-1690
Email:
[email protected]
MARA Media Contact:
Email: [email protected]