Hold onto Your Hats! MARA Strikes Gold in the Bitcoin Mine! 💰🚀
Well, well, well! It seems MARA Holdings, once known as the rather dull Marathon Digital Holdings, has struck a veritable goldmine in the world of Bitcoin! With Bitcoin soaring to dizzying heights, the company has raked in a jaw-dropping $752 million in mining revenue! Talk about a piggy bank bursting at the seams! 🐷💥
On May 27, the company’s annualized mining revenue hit the jackpot, making it the most profitable day in the history of this Bitcoin bonanza. And guess what? Marathon is now the biggest, baddest Bitcoin mining firm on the block, at least in the public trading world! Who knew mining could be so lucrative? 💎
“Quarterly reports are as slow as molasses in January! But onchain shows revenue in real time,” quipped CryptoQuant’s big cheese, Ki Young Ju, in a cheeky post on X, confirming this monumental milestone. 🐢💨
Just days before this revenue explosion, Bitcoin decided to throw a party of its own, reaching a staggering all-time high of $112,000 on May 22. Some analysts are scratching their heads, attributing this wild ride to the Japanese bond market’s antics, where bond yields decided to play hopscotch with new highs amidst a bit of economic chaos. 🎉📈
But wait, there’s more! This revenue surge comes just two weeks after MARA’s Q1 earnings report, which, let’s just say, didn’t quite tickle Wall Street’s fancy, missing estimates by a mere 0.35%. And to add a sprinkle of drama, the company’s Bitcoin production took a nosedive, falling 19% year-over-year, thanks to the April 2024 Bitcoin halving. It’s like a magic trick gone wrong, where the block rewards were cut in half from 6.25 to 3.125 BTC! 🎩✨
With a market capitalization of a whopping $5.18 billion, Marathon is strutting its stuff as the world’s largest Bitcoin mining firm, according to Companiesmarketcap data. That’s a lot of dough! 🍞💵
MARA’s Bitcoin Holdings: A Treasure Trove! 🏴☠️
Despite the production hiccup, our friends at Marathon are not just sitting on their hands. Oh no! They’ve been busy expanding their Bitcoin stash. As of May 27, MARA’s Bitcoin holdings have ballooned to 48,237 BTC, worth over $5.28 billion! That makes them the second-largest corporate Bitcoin holder, with a cheeky 0.23% of the total supply, according to Bitbo data. 🏆
But hold your horses! The top spot is still held by Strategy (formerly MicroStrategy), which is hoarding over $63 billion in Bitcoin. Talk about a Bitcoin hoarder! 🏦💰
Even with the revenue surge, daily miner revenues are averaging around $50 million, which is a far cry from the historic peaks of $80 million. It seems there’s still “room to climb back to those previous highs,” noted macro researcher and CryptoQuant author Axel Adler in a rather optimistic post on May 27. Climb, climb, climb! 🧗♂️
Marathon first jumped on the Bitcoin bandwagon as a strategic treasury reserve asset back in July 2024, when it added a cool $124 million worth of BTC to its balance sheet. Smart move, eh? 💡💸
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2025-05-27 15:38