Mining company MARA lent out 7,377 BTC to third parties in 2024
MARA, formerly Marathon Digital, lent out 7,377 Bitcoin (BTC) in 2024, focusing on short-term arrangements with established third parties to generate modest yields. The lending program aims to offset operating expenses from energy-intensive mining, which faces challenges due to reduced block subsidies following the April 2024 halving, lowering the block reward to 3.125 BTC. MARA achieved a hashrate of 53.2 exahashes per second (EH/s) in December 2024 and holds a total of 44,893 BTC, having acquired 22,065 BTC at an average price of $87,205 and mined an additional 9,457 BTC. The company raised $1.9 billion through two zero-interest senior convertible note offerings to bolster its treasury. MARA's strategy has garnered praise from MicroStrategy co-founder Michael Saylor, who anticipates its inclusion in the Nasdaq 100 index.
