Mara Holdings’ earnings report revealed the company added 8,280 bitcoin to its already existing portfolio of 18,467 bitcoin in Q3. This raised its total bitcoin holding to 26,747 BTC. The latest addition to its bitcoin portfolio was done via mining 2,070 BTC and purchasing 6,210 BTC at an average price of $59,500. The bitcoin purchase was done using the proceeds from a $300 million offering of convertible senior notes.
In addition, the company increased its mining capacity for bitcoin with three new data centers in Ohio with 372 megawatts capacity. This increased Mara’s energized
hash rate to an all-time high of 36.9 exahash through the addition of 18,000 new miners.
The company said in the report that it was positioning itself to “leverage energy-efficient high-performance compute to process bitcoin network transactions with the end goal of accumulating bitcoin.”
The Q3 report also brought to light Mara’s strong participation in the U.S. elections. Mara Holdings co-founded the bitcoin voter project, playing a significant role in advocating for pro-crypto candidates. Their contributions through crypto political action committees (PACs) contributed to raising over $130 million and successfully helped to elect 253 pro-crypto candidates to the House of Representatives and 16 to the Senate.
The company reiterated its strong crypto outlook for the Trump administration, saying “we look forward to working with the new Trump administration and educating on the benefits and strategic importance of blockchain technology and the ownership of block space. We have been actively involved in political and regulatory discussions at both national and international levels to advocate for the role of BTC mining in economic growth, energy stability, and sustainability, which we believe is an important priority.”
