Hold onto your hats, folks! Bitcoin mining behemoth Marathon Digital Holdings, or MARA for short, is shaking things up by lending out a cool 16% of its Bitcoin stash to rake in some extra cash. Picture this: one of the world's biggest Bitcoin treasure chests, and MARA's letting a slice of it mingle with third parties.
In a fresh update, MARA spilled the beans that they've temporarily lent out 7,377 BTC, which is worth a jaw-dropping $730 million at today's rates. If you're doing the math, that means they've got a total of 44,893 BTC, valued at a staggering $4.4 billion. Talk about a treasure trove!
Now, why would a giant miner like MARA lend out its precious Bitcoin? Simple! It's all about playing it smart and seizing the moment. MARA's got this hybrid strategy going on, which lets them snag Bitcoin at sweet prices and make the most of market dips. It's like buying on sale!
While MARA's playing coy about who exactly got their hands on these loans, Robert Samuels, their Investor Relations guru, assures us they're all short-term deals with reputable folks. The goal? Bring in just enough yield to keep the lights on and the machines whirring.
And it's not just the lending game that's keeping MARA busy. They've been mining like champs, with 9,457 BTC added to their stash and another 22,065 BTC picked up at an average price of $87,205 last year. Plus, they've smashed their hash rate targets, showing off some serious mining muscle.
With all this action, MARA's stock made a nice little leap, climbing 14% to hit $19.73 in after-hours trading. But let's be real, it's been a rollercoaster ride throughout the year.
Even industry bigwig Michael Saylor is giving MARA a nod, hinting they might be the next Bitcoin star to join the Nasdaq 100 club. And why not? Bitcoin mining is a tough gig with rewards getting slashed every few years, so you've got to play smart and stay nimble.
Meanwhile, the Bitcoin network's computing power has hit an all-time high, but the earnings from that power are still on the low side. It's a wild ride, but MARA's got their eyes on the prize!
