MARA Holdings expands Bitcoin mining capabilities with a 50 EH/s hashrate

Achieves a market cap of over $6 billion and acquires $1.1 billion in BTC

MARA stock has risen by 18% over the past month

MARA, a publicly traded company headquartered in Dubai recently announced a major expansion of its Bitcoin mining capabilities.

Throughout 2024, MARA Holdings implemented an ambitious plan to expand its hash rate, greatly improving the company’s mining capacity. In a recent post on Twitter, the company announced that it crossed the 50 EH/s milestone—becoming the first mining firm ever to reach that mark.

A hashrate is the term that describes the total computational power used for confirming blockchain nodes and receiving rewards in a proof-of-stake consensus. For MARA, the higher hashrate means the company is now able to perform 50 exahashes per second—or 50 quintillion hash operations every second.

MARA continues to rule as the top Bitcoin mining firm with a market capitalization of over $6 billion. This year also marked major developments in the company’s treasury expansion as just yesterday, MARA acquired over $1.1 billion in BTC.

Its publicly traded stock (MARA) is seeing the effects of the firm’s success in achieving a higher bitcoin outreach. Over the last month, the stock went up by over 18% in value. It currently trades at $23.41 per share, up 2.57% from the previous day, according to data from Yahoo Finance.