Bitcoin mining company MARA reaches 50 EH/s computing power, a first in the industry

Nasdaq-listed Bitcoin miner MARA reported that it doubled its hashrate in 2024 to reach its target of 50 EH/s by the end of the year, making it the first listed Bitcoin miner to cross this milestone. MARA's hashrate was 36.9 EH/s at the end of the third quarter, which means it has increased by at least 13.1 EH/s since then. MARA CEO Fred Thiel said on X: "Mission accomplished...but why stop here. Stay tuned, because we have more mining machines coming into operation and we will continue to expand with existing capacity." (Cointelegraph) Yesterday, MARA announced on the X platform that it has purchased 11,774 BTC worth approximately US$1.1 billion using funds from the issuance of zero-interest convertible notes, achieving a BTC yield of 12.3% QTD and 47.6% YTD. As of December 9, 2024, there are 40,435 BTC held, currently worth $3.9 billion based on the spot BTC price of $96,500.