According to Vice President Robert Samuels, the company will focus on short-term agreements “with well-established third parties” that have been active through 2024. The contracts are expected to yield no more than 10% per annum.
MARA Holdings' long-term goal is to generate sufficient cash flow to cover operating expenses.
According to the report published on January 3, in 2024, the company purchased 22,065 BTC at an average price of $87,205 and mined 9,457 BTC.
In December, MARA managed to surpass its hashrate target of 50 EH/s. The volume of Bitcoin reserves reached 44,893 BTC — $4.45 billion at the current exchange rate.
MARA CEO and Chairman Fred Thiel noted that the hybrid approach of mining and buying bitcoin gives the company significant flexibility to acquire the asset at attractive prices. According to him, this strategy strengthens the firm's position and increases its ability to deliver long-term value to shareholders.
Previously, MARA Holdings purchased 11,774 BTC for ~$1.1 billion at an average price of about $96,000 per coin.
The coins were purchased with funds received from the sale of convertible bonds with a 0% coupon.