MARA Announces Bitcoin Production and Mining Operation Updates for July 2025

Rhea-AI Summary

MARA (NASDAQ:MARA) reported its Bitcoin mining operations update for July 2025, with 703 Bitcoin produced, representing a 1% decrease month-over-month. The company won 207 blocks in July, down 2% from June, amid a 9% increase in mining difficulty.

MARA achieved a significant milestone by increasing its Bitcoin holdings to 50,639 BTC, establishing itself as the second-largest publicly traded Bitcoin holder globally. The company's energized hashrate grew by 3% to 58.9 EH/s. With over $5 billion in liquid assets and an additional $1 billion recently raised, MARA is positioned for domestic growth and international expansion.

[ "Increased Bitcoin holdings to 50,639 BTC, becoming second-largest publicly traded Bitcoin holder globally", "Energized hashrate grew 3% to 58.9 EH/s month-over-month", "Strong liquidity position with over $5 billion in liquid assets plus $1 billion newly raised capital", "Improved operational efficiency at Wolf Hollow and Kearney facilities" ]

Positive

• None.

Negative

• Bitcoin production decreased 1% month-over-month to 703 BTC
• 2% decrease in blocks won (207) compared to previous month
• Higher than expected curtailment at Ohio sites
• Mining difficulty increased 9% compared to June

Insights

Cryptocurrency Mining Analyst

MARA shows operational resilience despite minor production declines, with Bitcoin holdings reaching significant 50,000+ milestone amid strategic infrastructure expansion.

MARA's July performance reveals a modest 2% month-over-month decrease in blocks won (207 vs 211) and a 1% reduction in Bitcoin production (703 vs 713), primarily attributed to a 9% increase in mining difficulty and the global hashrate rebound following seasonal curtailment. Despite these challenges, the company achieved a significant milestone by growing its Bitcoin holdings to 50,639 BTC, establishing MARA as the second-largest publicly traded Bitcoin holder globally.

The company demonstrated operational resilience by increasing its energized hashrate by 3% to 58.9 EH/s, improving operational efficiency at key facilities, and maintaining a robust 4.9% share of available miner rewards. This performance is particularly noteworthy considering the headwinds of higher-than-expected curtailment at Ohio sites.

From a financial perspective, MARA maintains exceptional liquidity with over $5 billion in liquid assets as of June 30th, supplemented by nearly $1 billion raised since then. This strong capital position enables both domestic growth and international expansion plans. Their approach to Bitcoin holdings is strategically differentiated from passive treasury companies - they actively manage their Bitcoin as productive assets that strengthen the balance sheet and help fund operations.

The company's preparedness for future growth is evident in their plans to energize a new data center at their Texas wind farm in the second half of 2025. This calculated infrastructure expansion, combined with their substantial Bitcoin holdings and strong capital position, demonstrates MARA's commitment to sustainable long-term growth in the cryptocurrency mining sector rather than short-term production maximization.

207 Blocks Won in July, 2% Decrease M/M
703 Bitcoin Produced in July, 1% Decrease M/M
Increased BTC Holdings* to 50,639 BTC

Miami, FL, Aug. 04, 2025 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) ("MARA" or the "Company"), a leading digital energy and infrastructure company, today published unaudited bitcoin ("bitcoin" or "BTC") production updates for July 2025.

Management Commentary
"In July, our production saw a 2% month-over-month decrease in blocks won as global hashrate rebounded following seasonal curtailment and mining difficulty was 9% higher than the end of June," said Fred Thiel, MARA's chairman and CEO. "Our bitcoin holdings surpassed 50,000 BTC in July, a milestone that solidifies MARA as the second-largest publicly traded holder of bitcoin globally. More importantly, this is a treasury we built through disciplined infrastructure development, scaled operations, and focused execution.

"We increased our energized hashrate by 3% over the previous month, and we are preparing to begin energizing the data center at our Texas wind farm in the second half of the year. Although we encountered higher than expected curtailment at our Ohio sites, our teams improved operational efficiency at Wolf Hollow and Kearney by boosting productivity and streamlining the supply chain.

"Looking ahead, what sets us apart is our thought leadership, worldwide operational scale, and capital and operational efficiency. As of June 30, 2025, we held over $5 billion in liquid assets, and with nearly $1 billion raised since, we have the flexibility to fund domestic growth and pursue international expansion. Unlike passive treasury companies, we treat our bitcoin as a productive, risk-managed asset. Through a disciplined asset management strategy, our holdings strengthen the balance sheet and help fund operations, which we believe will enhance long-term shareholder value. We don't just hold bitcoin, we put it to work.”

Operational Highlights and Updates
Figure 1: Operational Highlights

		Prior Month Comparison
Metric		7/31/2025			6/30/2025			% Δ
Number of Blocks Won 1		207			211			(2)%
BTC Produced		703			713			(1)%
Average BTC Produced per Day		22.7			23.8			(4)%
Share of available miner rewards 2		4.9	%		5.4	%		NM
Transaction Fees as % of Total 1		1.1	%		1.4	%		NM
Energized Hashrate (EH/s) 1		58.9			57.4			3%

1. These metrics are MARAPool only and do not include blocks won from joint ventures.
2. Defined as the total amount of block rewards including transaction fees that MARA earned during the period divided by the total amount of block rewards and transaction fees awarded by the Bitcoin network during the period.

NM - Not Meaningful

As of July 31, 2025, the Company held a total of 50,639 BTC*.
*Includes bitcoin that is loaned, actively managed or pledged as collateral

Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under the heading "Risk Factors" in our most recent annual report on Form 10-K and any other periodic reports that we may file with the U.S. Securities and Exchange Commission (the "SEC"). If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below.

The operational highlights and updates presented in this press release pertain solely to our BTC mining operations. Detailed information regarding our other operations can be found in our periodic reports filed with the SEC.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The words "may," "will," "could," "anticipate," "expect," "intend," "believe," "continue," "target" and similar expressions or variations or negatives of these words are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements include, among other things, statements related to the energization of the data center at our Texas wind farm, our domestic and international growth plans and the anticipated benefits of our asset management strategy. Such forward-looking statements are based on management’s current expectations about future events as of the date hereof and involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Subsequent events and developments, including actual results or changes in our assumptions, may cause our views to change. We do not undertake to update our forward-looking statements except to the extent required by applicable law. Readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements included herein are expressly qualified in their entirety by these cautionary statements. Our actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, including, but not limited to, the factors set forth under the heading “Risk Factors” in our most recent annual report on Form 10-K, and any other periodic reports that we may file with the SEC.

About MARA
MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world's energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.

For more information, visit www.mara.com, or follow us on:

Twitter: @MARA
LinkedIn: www.linkedin.com/company/maraholdings
Facebook: www.facebook.com/MARAHoldings
Instagram: @maraholdingsinc

MARA Company Contact:
Telephone: 800-804-1690
Email: ir@mara.com

MARA Media Contact:
Email: marathon@wachsman.com

FAQ

How many Bitcoin did MARA mine in July 2025?

MARA mined 703 Bitcoin in July 2025, representing a 1% decrease from the previous month's production.

What is MARA's total Bitcoin holdings as of July 2025?

MARA held 50,639 BTC as of July 31, 2025, making it the second-largest publicly traded holder of Bitcoin globally.

How much hashrate does MARA currently have?

MARA's energized hashrate reached 58.9 EH/s in July 2025, representing a 3% increase from the previous month's 57.4 EH/s.

What is MARA's current liquidity position?

MARA held over $5 billion in liquid assets as of June 30, 2025, and raised an additional nearly $1 billion since then.

How many blocks did MARA mine in July 2025?

MARA won 207 blocks in July 2025, a 2% decrease from 211 blocks in June 2025, partly due to a 9% increase in mining difficulty.