MARA Holdings reported that it loaned 7.377 BTC to third parties in 2024, generating additional returns for its shareholders. The cryptocurrency mining company has been diversifying its strategy to expand beyond crypto mining.
In its latest 2024 operating report, MARA Holdings, one of the world's largest Bitcoin mining companies by market cap, revealed details about its diversification strategy. In addition to its core blockchain mining business, the company has added two new lines of business: direct Bitcoin investment and BTC lending to third parties.
According to the recently released report, in 2024, MARA Holdings mined a total of 9.457 BTC and acquired an additional 22.065 BTC at an average price of $87.205 per coin. However, what caught the eye was the amount of 7.377 BTC that the company had lent to third parties by the end of the year. According to Robert Samuels, the company's vice president of relationships, this figure represents around 16,5% of the total Bitcoin reserves held by MARA today, which amount to 44.893 BTC, valued at over $4.400 billion at current prices.
Bitcoin loans: New source of income for MARA Holdings
MARA Holdings CEO Fred Thiel highlighted that Bitcoin mining has historically been the company's core business. However, in recent months, the company has explored new ways to generate value for its shareholders. One of the most notable is the Bitcoin lending program, through which the company lends a portion of its reserves to third parties in exchange for a return.
“Overall, we now hold a total of 44.893 BTC, valued at $4.200 billion based on a spot price of $93.354 per BTC. Notably, as of December 31, 2024, we had 7.377 BTC loaned to third parties, generating additional returns for our shareholders.”, said Thiel.
According to the report, as of December 31, 2024, MARA Holdings had lent 7.377 BTC through short-term agreements with well-established third parties. Although the company has not publicly disclosed who these third parties are, it has been mentioned that the program focuses on strong and experienced financial counterparties.
BUY BITCOINIn a separate post, Samuels explained that this lending model seeks to offer additional returns to shareholders, without compromising the company's long-term strategy of accumulating Bitcoin. He also noted that the loans generate a single-digit return, although he did not specify the exact figure.
Overall, with this strategy the company not only diversifies its mining revenues, but also positions itself as a company that is more resilient to market cycles. While other miners typically sell part of their production to cover operating costs, MARA Holdings uses direct investment and loans as an alternative to cover its expenses and keep its reserves intact, while earning a return on its capital.
The advantages of the Bitcoin lending model
MARA Holdings’ Bitcoin lending program offers several advantages for both the company and the market at large. First, it allows the company to become a more relevant player in the Bitcoin financial ecosystem, innovating with services beyond traditional mining.
One of the main benefits of this strategy is the generation of an additional revenue stream. Even though the return is modest, as the company has indicated, this model allows MARA Holdings to leverage its Bitcoin reserves in a more efficient way. Instead of leaving its capital tied up, the company can monitor its assets while maintaining direct exposure to the market.
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Its hash rate on the blockchain network grows
In addition to lending and direct Bitcoin acquisition, MARA Holdings reported that it has managed to surpass its energized hash rate target of 50 exahashes per second (EH/s) during 2024, reaching a peak of 53,2 EH/s in December. This achievement not only reflects its ability to scale operations, but also highlights its commitment to efficiency and innovation in the mining sector.
INVITE AND WINIn short, the combination of mining and direct investment has allowed MARA Holdings to build a significant reserve of Bitcoin, which not only positions it as one of the most influential mining companies today, recognized by figures such as Michael Saylor, executive president of Strategy, but also as an entity with significant weight in the cryptocurrency market.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
