MARA Achieves Remarkable Bitcoin Production Milestone in May: Insights for Crypto Investors

MARA Holdings Sets New Monthly Bitcoin Production Record

MARA Holdings, formerly known as Marathon Digital, achieved a new monthly production record in May by mining 950 Bitcoin—a 35% increase from April. The BTC miner successfully won 282 blocks, marking a 38% month-over-month improvement, while expanding its energized hashrate to 58.3 exahash per second.

This strong performance coincided with Bitcoin reaching an all-time high above $112,000, fueled by growing optimism in risk-on assets. At the time of reporting, Bitcoin was trading above $106,000, reflecting a 2% gain over the past 24 hours.

Bitcoin miners leverage high-powered computing systems to solve complex mathematical problems that verify transactions on the blockchain. The first miner to solve these problems earns newly minted Bitcoin along with transaction fees, contributing to MARA's record-breaking production.

MARA Holdings CEO Fred Thiel credited the company's success in May to "block reward luck," highlighting that MARA Pool's performance has exceeded the network average by more than 10% since its launch.

Thanks to its strong mining output, MARA Holdings has expanded its Bitcoin treasury to 49,228 BTC, valued at approximately $5.3 billion. Notably, the company refrained from selling any Bitcoin during May.

Meanwhile, competitor Riot Platforms reported a more modest 11% increase in BTC production, reaching 514 Bitcoin in May. Unlike MARA, Riot sold 500 Bitcoin during the same period.

Riot Platforms Expands Texas Footprint

In his May performance update, Riot Platforms CEO Jason Les announced the acquisition of 355 acres near its existing Corsicana facility in Texas.

"This additional land will support the development of data centers for high-performance computing, which typically require larger footprints than Bitcoin mining while utilizing the same power capacity," Les explained.

The cryptocurrency mining sector continues to evolve, with industry leaders like MARA Holdings and Riot Platforms competing for market dominance while diversifying their operations to maintain a competitive edge.