Bitcoin mining firm MARA Holdings (MARA) nearly tripled its Bitcoin holdings over 12 months, according to its newly released Q1 results.
However, its Bitcoin production fell, and total earnings slightly missed Wall Street estimates in Q1.
MARA, formerly Marathon Digital, saw its Bitcoin (BTC) holdings increase to 47,531 BTC, up 175% from the 17,320 BTC the firm was holding at the end of Q1 2024.
MARA holdings inch closer to $5B after Bitcoin pump
MARA holds the second-largest amount of Bitcoin among all publicly traded companies, according to CoinGecko data. Strategy (MSTR) holds the number one spot with 555,450 Bitcoin.
The holdings represent a total value of approximately $4.9 billion, based on Bitcoin’s current price of $102,660 at the time of publication, according to CoinMarketCap data. Over the past 24 hours, Bitcoin’s price spiked