Bitcoin miner MARA Holdings has hit the 50,000 BTC milestone, expanding its treasury in the process. This milestone has occurred thanks to its mining operations, with the miner reaching a new level of computational power in mining the flagship crypto. Despite this milestone, the Bitcoin miner is still way behind Saylor and Strategy in terms of BTC holdings.
MARA Holdings Hits 50,000 BTC Milestone
In an X post, the Bitcoin miner announced that it boasts 50,000 BTC ($5.47 billion) in its Bitcoin treasury. The company remarked that this milestone is thanks to the increase in its EH/s to 57+, which reinforces new foundations for the US’s digital economy and energy infrastructure.
The EH/s stands for exahashes per second. This is the amount of computational power that MARA uses to mine BTC. MARA stated that the next target is 75 EH/s by year-end. Meanwhile, it is worth mentioning that the 50,000 BTC in the company’s treasury includes Bitcoin that is loaned, collateralized, and ones under asset management.
Meanwhile, the Bitcoin miner is the public company with the second-largest BTC holdings, only behind Michael Saylor’s Strategy. As CoinGape reported, Strategy, previously MicroStrategy, recently purchased 4,980 BTC for $531.9 million, bringing the company’s total holdings to 597,325 BTC. Unlike MARA, Saylor and Strategy have actively raised capital to acquire more BTC.
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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand.
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