Key Points
- MARA Holdings reports a 12% decrease in Bitcoin production due to increased network difficulty and occasional mining slowdowns.
- The company is committed to improving long-term efficiency and plans to expand mining capacity in 2025.
MARA Holdings (NASDAQ: MARA), a leading figure in digital asset mining, recently shared updates on its Bitcoin mining activities for January 2025.
The company experienced a significant drop in block production last month, attributing this to increased network difficulty and intermittent slowdowns.
Bitcoin Production Decline
Despite these challenges, MARA remains dedicated to enhancing its long-term efficiency. The company plans to make strategic upgrades to solidify its standing in the competitive Bitcoin mining sector.
In January, MARA recorded a 12% decrease in blocks won compared to December. The company had generated 249 Bitcoin blocks in December 2024, bringing its total to 44,893 Bitcoins by the end of the year.
Fred Thiel, MARA’s chairman and CEO, attributed this drop primarily to changes in network difficulty and intermittent curtailments. Following a busy end to 2024, over 100,000 miners were relocated and brought online.
MARA’s energized hashrate in January remained consistent with December’s levels, with no new miners introduced during the month. In contrast, other significant mining firms, such as Riot Platforms (NASDAQ: RIOT), saw an increase in mining volume.
Riot managed to achieve a higher Bitcoin output, benefiting from optimized energy strategies and fewer slowdowns compared to MARA. This scenario illustrates how network changes and operations impact different mining companies differently.
Upgrading Mining Operations
Despite the dip in mining activity, MARA is prioritizing the enhancement of its mining operations. In January, the company converted over 230 containers to immersion cooling at its Wolf Hollow, Texas site.
This technology significantly improves uptime and ensures the efficient operation of S21 Pro immersion miners. This achievement allows MARA to increase its hashrate without additional power consumption, maintaining its competitive edge.
MARA is also close to completing the transition to S21 Pro miners at Kearney, Nebraska. Once fully converted, the site is expected to see notable improvements in fleet efficiency.
MARA has set ambitious goals for 2025, aiming to expand its mining capacity while adhering to low-cost, energy-efficient solutions. This strategy is expected to further strengthen its position as a leader in the Bitcoin mining sector.
As part of its growth strategy, MARA will continue to optimize its mining fleet and implement technologies that drive long-term success.
Competitors like Riot and CleanSpark are also expanding their mining operations with technological upgrades and energy-efficient solutions. Their approaches to managing energy costs and fleet performance have resulted in different Bitcoin production outcomes.
MARA has announced that it will discuss its financial performance and expansion plans more extensively during the earnings call at the end of the month. However, the company also cautioned that investing in its securities carries high risks, urging potential investors to review the risks carefully.
