MARA (NASDAQ: MARA) shares barely budged at the open Wednesday, as the company, one of the world’s largest publicly traded bitcoin miners and a leader in supporting and securing the Bitcoin ecosystem, today published unaudited BTC production updates for September 2024.
“In September, the strength of our globally diversified operations was evident as we achieved significant uptime and increased our energized hash rate to 36.9 EH/s, reflecting 5% growth from August," said CEO Fred Thiel. "Block wins during the month increased 6% from August while BTC production grew 5% to 705 BTC. We are proud to have surpassed a marathon worth of bitcoin HODL in September and currently have almost 27,000 BTC on our balance sheet.
"We remain on track to reach our target of 50 EH/s by the end of 2024. Our team continues to quickly energize our owned sites and operate them more efficiently than originally planned. The conversion of our Granbury data center from air cooled to MARA's immersion containers is progressing on time and we expect this work to be completed before year end.”
BTC Produced increased 5% to 705 from 673. As of September 30, 2024, the Company held a total of 26,842 unrestricted BTC. MARA opted not to sell any BTC in September.
MARA shares dipped 1.5 cents, or 0.1%, to $15.06.
