Bitcoin Miner MARA Holdings Posts Record Block Wins, Produces 950 BTC in May

Bitcoin miner MARA Holdings (MARA) produced 950 BTC in May, a 35% increase from the previous month and its strongest output since the Bitcoin halving in April 2024, the company said Tuesday.

The firm also set a new internal monthly record for blocks won, totaling 282, a 38% jump from April.

CEO Fred Thiel attributed the gains to the company’s vertically integrated tech stack and its self-owned MARA Pool. “Operating our own pool means we keep all block rewards without paying fees to third parties,” Thiel said, adding that MARA Pool’s block reward luck has outperformed the Bitcoin network average by over 10% since its launch.

The company’s energized hashrate ticked up slightly to 58.3 EH/s in May, while its share of available miner rewards rose to 6.5%, up from 5.1% the prior month. Transaction fees made up 1.5% of the total rewards, slightly higher than April.

MARA held 49,179 BTC as of May 31 and didn’t sell any bitcoin during the month, keeping all holdings on its balance sheet.

Shares are higher by 5.5% in Tuesday trade alongside a modest rise in the price of bitcoin to just over $106,000.