Bitcoin mining company MARA will allocate 16% of its Bitcoin holdings to short-term lending to generate profits
On January 6th, according to TheBlock, Bitcoin mining company MARA Holdings, Inc recently announced that it has used its 16% BTC holdings (worth nearly $730 million in 7377 coins) for short-term third-party loans to generate a "moderate single digit yield". Robert Samuels, Vice President of Investor Relations at MARA, stated that the company's Bitcoin lending program has been active throughout 2024, focusing on short-term arrangements with mature third parties and generating revenue, but the borrower's identity has not been disclosed. In 2024, the company purchased 22065 bitcoins at an average price of $87205 and mined 9457 bitcoins. Its reserves currently total 44893 bitcoins, valued at over $4.4 billion at current prices. MARA also stated that it achieved its computing power target of 50 EH/s in December.