Record Mining Revenue as Bitcoin Soars

MARA Holdings (formerly Marathon Digital) achieved unprecedented Bitcoin mining revenue of 【$752 million】 annualized on May 27, according to CryptoQuant's real-time blockchain data. This milestone coincided with Bitcoin's price surge to 【$112,000】 on May 22, driven partly by Japan's bond market turbulence where yields hit historic highs.

The Halving Paradox

Despite a 19% year-over-year production decline following April's Bitcoin halving —— which slashed block rewards to 3.125 BTC —— MARA's strategic treasury management paid off. The firm now holds 【48,237 BTC】 worth over 【$5.28 billion】, securing its position as the world's second-largest corporate Bitcoin holder after MicroStrategy's 【$63 billion】 stash.

Market Leadership Dynamics

As the 【$5.18 billion】 market cap leader among public mining firms, MARA demonstrates how operational scale compensates for reduced post-halving output. Interestingly, while daily miner revenues currently average 【$50 million】, CryptoQuant researcher Axel Adler notes this remains below the 【$80 million】 historic peak, suggesting further growth potential.

Real-Time Analytics Advantage

"Quarterly reports are slow. Onchain shows revenue in real time," emphasized CryptoQuant CEO Ki Young Ju. This transparency reveals MARA's July 2024 strategic pivot —— adding 【$124 million】 in BTC to its balance sheet —— as a prescient move now yielding exponential returns.

The Corporate Bitcoin Arms Race

Bitbo data shows MARA controls 【0.23%】 of Bitcoin's total supply, highlighting institutional adoption trends. The mining firm's revenue surge comes despite missing Q1 Wall Street estimates by 【0.35%】, proving how Bitcoin's appreciation can outweigh operational challenges —— a lesson for the entire 【$12 billion】 public mining sector.