MARA Holdings, Inc. (NASDAQ:MARA) just delivered a showstopper November, cementing its dominance in the Bitcoin mining world. The company mined 907 BTC last montha jaw-dropping 26% jump from Octoberpowered by operational upgrades and a 15% boost in its energized hash rate to 46.1 EH/s. It didn’t stop there. MARA snagged 254 blocks, the highest in its history, making this a mic-drop moment for its mining operations. The cherry on top? MARA’s BTC yield per share climbed to an eye-catching 37.2%, signaling the company’s knack for turning strategy into shareholder value.
Here’s the kicker: MARA isn’t just mining Bitcoinit’s buying it too. November saw the company scoop up 6,474 BTC for $618.3 million, flexing its hybrid strategy to snap up Bitcoin during market dips. And they’re not slowing down. MARA plans to issue $700 million in zero-coupon convertible senior notes to repurchase existing debt and load up on even more Bitcoin. With 34,959 BTC now in its vault, worth a staggering $3.3 billion, MARA has positioned itself as a heavyweight in the digital asset arena, capable of weathering volatility while seizing growth opportunities.
CEO Fred Thiel summed it up perfectly: MARA’s ability to produce Bitcoin at below-market costs and strategically time purchases is a game-changer. For investors, this means MARA isn’t just riding the Bitcoin waveit’s carving its own path. As Bitcoin’s spot price dances around $95,000, MARA’s record-breaking results and aggressive financial plays make it a standout for anyone eyeing the crypto-mining sector’s next big thing.
This article first appeared on GuruFocus.
