Mara Holdings, a leading publicly traded Bitcoin mining company in the U.S., achieved significant growth in its Bitcoin production in May, with 950 BTC minted, marking a 35% month-over-month increase. This production surge included earning a record 282 blocks, reflecting a 38% increase from the previous month. As of now, Mara's total Bitcoin holdings stand at 49,179 BTC, valued at approximately $5.2 billion based on CoinGecko data.
Salman Khan, Mara's CFO, emphasized that the company had their best production month on record without selling any of the mined Bitcoin. He noted the company's operational edge comes from managing its own mining pool, which eliminates fees to external operators and allows Mara to retain full block rewards. Fred Thiel, Chairman and CEO, remarked that the successful May production is the largest since the recent halving event in April 2024.
Mara's boost in production occurs amid rising Bitcoin mining difficulty and a record hashrate, which reached 942 exahashes per second (EH/s) as of May 31, as reported by Blockchain.com. Bitcoin mining difficulty also increased significantly, surpassing 126 trillion, indicating a tougher environment for miners overall. Despite these challenges, Mara's mining pool has reportedly performed better than the network’s average by over 10%, driven largely by block reward luck and maximizing their efficient operations.
Salman Khan, Mara's CFO, emphasized that the company had their best production month on record without selling any of the mined Bitcoin. He noted the company's operational edge comes from managing its own mining pool, which eliminates fees to external operators and allows Mara to retain full block rewards. Fred Thiel, Chairman and CEO, remarked that the successful May production is the largest since the recent halving event in April 2024.
Mara's boost in production occurs amid rising Bitcoin mining difficulty and a record hashrate, which reached 942 exahashes per second (EH/s) as of May 31, as reported by Blockchain.com. Bitcoin mining difficulty also increased significantly, surpassing 126 trillion, indicating a tougher environment for miners overall. Despite these challenges, Mara's mining pool has reportedly performed better than the network’s average by over 10%, driven largely by block reward luck and maximizing their efficient operations.
