Bitcoin miner MARA Holdings reported record second-quarter revenue of $238.5 million, a 64% increase from the previous year, beating Wall Street expectations.
MARA mined 2,358 bitcoin in the quarter, with its energized hashrate rising by 6% to 57.4 EH/s, and aims to reach 75 EH/s by year-end.
The company holds nearly 50,000 BTC, worth almost $6 billion at current prices, and actively manages 31% of its bitcoin holdings.
However, unlike many other bitcoin treasury companies, the firm said that it doesn't just hold BTC on its balance sheet; rather, it actively manages them. It has about 31% or 15,550 bitcoin loaned, actively managed or pledged as collateral as part of its treasury management.
31% Loaned out, I wonder what kind of return they are getting to offset the risk.
That is a good question. 31% is a bit high but it appears it’s adding to their bottom line