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Bitcoin mining giant MARA reported its August production update, revealing a BTC treasury of 52,477 coins, worth $5.9 billion, solidifying its position as the second-largest public bitcoin holder after Strategy.
What’s the Scoop?
- Massive BTC stack: MARA mined 705 BTC ($79.2M) in August, lifting its total holdings to 52,477 BTC, second only to Strategy’s 636,505 BTC. The firm accounted for nearly 5% of miner rewards last month and has maintained its status as the largest bitcoin holder among public miners.
- Production and operations: MARA produced 208 blocks in August and reported a 1% increase in energized hashrate to 59.4 EH/s.
- New European foothold: MARA opened its European HQ in Paris and announced a deal to acquire 64% of Exaion, a subsidiary of French utility EDF, aiming to combine mining tech with AI infrastructure and grid-stabilization strategies.
- Market dynamics: Despite hitting an all-time high of ~$124,500 in mid-August, MARA’s share price has dropped 13.5% YTD, and the firm recently ceded its top market cap ranking among miners to AI-diversifying rival IREN.
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