MARA Holdings, a U.S.-based #bitcoin mining firm, reported record annual mining revenue of US$752 million, fueled by Bitcoin’s surge to an all-time high of US$111,900 on Friday (May 23). Despite a 19% year-on-year drop in BTC production due to the April 2024 halving, MARA expanded its Bitcoin holdings to 48,237 BTC, valued at over US$5.28 billion, making it the second-largest corporate BTC holder globally.
CryptoQuant CEO Ki Young Ju noted this as MARA’s most profitable day ever, with real-time on-chain data confirming the milestone. With a market cap of US$5.18 billion, MARA now stands as the world’s largest public Bitcoin mining company. CryptoQuant researcher Axel Adler added that while daily mining revenues still average US$50 million, there's potential to return to the US$80 million daily peak.