Publicly traded bitcoin miner MARA has loaned out 7,377 BTC to third parties to generate yield, or about 16% of its total reserves. MARA did not disclose the identities of the third parties that borrowed its BTC. Robert Samuels, MARA’s director of investor relations, said the loans were “short-term arrangements with reputable third parties.” He added that the company is generating “modest yields” and has been actively engaged in such loans throughout 2024. He added that “the long-term goal is to generate sufficient yields to offset operating expenses.”
In addition, MARA reported $3.9 million in interest income in the third quarter of 2024, primarily from cash on its balance sheet and interest generated from loaning out BTC. The company generated $4.8 million in interest income in the first half of 2024 (although this income was not mentioned in previous filings).
As for other developments, MARA reported surpassing the 50 EH/s milestone, with a powered-on hashrate of 53 EH/s at the end of last year. The company maintained an actual hashrate of about 47 EH/s, consistent with its performance in November last year.