Yigit Taha OZTURK 
MARA Holdings (formerly Marathon Digital) has set a new record in annualized Bitcoin mining revenue, surpassing $752 million as BTC reached a new all-time high of $112,000. The company is now the second-largest corporate holder of Bitcoin, with over $5.28 billion in BTC.
Record Revenue Amid Bitcoin Rally
On May 27, MARA reported the highest daily revenue in its history. The milestone was confirmed via on-chain data from CryptoQuant, as Bitcoin surged days earlier due to macroeconomic instability, notably in Japan’s bond markets.
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CryptoQuant CEO Ki Young Ju noted, “Quarterly reports are slow. On-chain shows revenue in real time.”
BTC Holdings Top $5 Billion Despite Halving Impact
Despite a 19% drop in Bitcoin production due to the April 2024 halving, MARA’s treasury strategy remains aggressive. With 48,237 BTC now held on its balance sheet — valued at over $5.28 billion — MARA trails only Strategy (formerly MicroStrategy) in corporate Bitcoin holdings.
The company’s market cap currently stands at $5.18 billion, making it the largest publicly traded Bitcoin miner globally.
Analysts: More Upside Possible
CryptoQuant’s Axel Adler commented that while daily mining revenues (~$50 million) are still below the historic $80 million peak, there’s potential to climb back to those highs.
MARA adopted Bitcoin as a strategic treasury reserve in July 2024, adding $124 million worth of BTC to its balance sheet, marking a key pivot in its financial strategy.
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