CoinVoice has learned that, according to The Block, Bitcoin mining company MARA disclosed in its December production report that it has used 7,377 Bitcoins (approximately $730 million) for short-term third-party lending business, accounting for 16.4% of its reserves, in order to obtain 'single-digit' yields.
According to the announcement, MARA acquired 22,065 Bitcoins at an average price of $87,205 in 2024, while mining 9,457, bringing its total reserves to 44,893 Bitcoins, valued at over $4.4 billion at current prices. The company has exceeded its target of 50 EH/s of hash power, peaking at 53.2 EH/s.
MARA's Vice President of Investor Relations, Robert Samuels, stated that the loan program began in 2024, primarily in collaboration with well-known third-party institutions. CEO Fred Thiel emphasized that the dual strategy of mining and purchasing provides greater flexibility for the company, helping to enhance long-term shareholder value. [Original link]
