MARA, a leading player in the digital asset compute space, has released its unaudited Bitcoin (BTC) production report for November 2024, showcasing record-breaking performance across key mining metrics. The company highlighted significant month-over-month growth in block rewards, hash rate, and BTC output—solidifying its position as a top-tier Bitcoin mining operator.
With an energized hash rate reaching 46.1 EH/s, a 15% increase from October, MARA continues to scale its infrastructure efficiently. The company mined 907 BTC in November alone—a 26% rise compared to the prior month—and secured 254 blocks, marking a 27% improvement and the highest monthly total in its history.
Strategic Growth Through Hybrid Acquisition Model
MARA’s success stems from a dual strategy: mining new BTC and acquiring it through direct purchases. This hybrid approach enhances flexibility and cost efficiency, especially during market volatility.
As of November 30, 2024:
- 8,563 BTC mined year-to-date
- 12,965 BTC purchased at an average price of $77,692
- Total BTC holdings: 34,959 BTC, valued at **$3.3 billion** (based on $95,000/BTC)
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This balanced model allows MARA to capitalize on price dips, reduce average acquisition costs, and maintain production advantages over spot prices—key differentiators in a competitive mining landscape.
Operational Highlights: Scaling Efficiency and Output
MARA’s November performance underscores strong operational execution and infrastructure optimization.
Key Metrics (Month-over-Month Comparison)
- Energized Hash Rate: Increased 15% to 46.1 EH/s
- Blocks Won: Up 27% to 254 blocks
- BTC Produced: Grew 26% to 907 BTC
- Daily Average BTC Production: Rose 33% to 30.7 BTC/day
- Share of Network Miner Rewards: Reached 6.6%, up from 4.8%
Notably, transaction fees accounted for 3.3% of total rewards—slightly lower than October’s 4.8%, reflecting shifts in network congestion and block composition.
These results reflect not only hardware deployment but also improvements in uptime, energy sourcing, and pool efficiency. A portion of the hash rate and BTC output was derived from joint ventures and external mining pools, further expanding MARA’s reach beyond its core operations.
Year-to-Date Performance and Shareholder Value
MARA’s year-to-date achievements demonstrate consistent progress toward long-term value creation.
- Total BTC HODLed (mined + purchased): 21,528 BTC
- BTC Yield Per Share: 37.2% YTD
- Total BTC Holdings: 34,959 BTC
This yield reflects both organic production and strategic capital allocation. By combining low-cost mining with timely market purchases, MARA strengthens its balance sheet while positioning shareholders to benefit from BTC appreciation.
Leadership Perspective: Building Sustainable Advantage
Fred Thiel, Chairman and CEO of MARA, emphasized the significance of November’s milestones:
“November was a record-breaking month for MARA, with our mining operations achieving unprecedented levels of production driven by the successful deployment of additional miners and enhanced operational efficiency. We mined 254 blocks—the most in a single month—and our BTC production grew 26% month-over-month.”
Thiel also highlighted the strategic value of MARA’s hybrid model:
“As a miner who mines and buys bitcoin, this dual approach provides significant flexibility to acquire bitcoin at attractive prices. It allows us to capitalize on market conditions by buying during downturns and producing at costs below spot prices—strengthening our competitive edge.”
MARA’s focus on cost-efficient operations, renewable energy integration, and scalable infrastructure supports long-term sustainability in the evolving crypto mining ecosystem.
Frequently Asked Questions (FAQ)
Q: What is energized hash rate, and why does it matter?
A: Energized hash rate measures the total computational power actively securing the Bitcoin network through mining. A higher hash rate indicates stronger operational scale and competitiveness. MARA’s 46.1 EH/s reflects robust infrastructure deployment and energy efficiency.
Q: How does MARA’s hybrid BTC acquisition strategy work?
A: MARA both mines new BTC and purchases it directly. Mining generates low-cost BTC over time, while strategic buying allows accumulation during price dips. This dual method optimizes average acquisition cost and accelerates balance sheet growth.
Q: Is MARA profitable if BTC is priced at $95,000?
A: Given that MARA produces BTC at a cost below the current spot price and has acquired BTC at an average of $77,692, the company holds substantial unrealized gains. Operational efficiency and scale further support margin expansion.
Q: How does MARA use renewable or stranded energy?
A: MARA leverages clean, stranded, or underutilized energy sources to power mining operations. This not only reduces costs but also aligns with environmental sustainability goals by converting otherwise wasted energy into digital value.
Q: Where can investors find official financial disclosures?
A: All regulatory filings, including annual reports (Form 10-K) and quarterly updates, are available through the U.S. Securities and Exchange Commission (SEC). These documents provide detailed risk factors and financial data.
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Commitment to Transparency and Risk Awareness
MARA emphasizes transparency in reporting and cautions investors about inherent risks in digital asset investments. Market volatility, regulatory changes, technological shifts, and energy cost fluctuations can impact profitability. Forward-looking statements are based on current expectations and are subject to risks outlined in SEC filings.
Investors are encouraged to review the company’s most recent Form 10-K and other periodic reports before making investment decisions.
About MARA
MARA (NASDAQ: MARA) is a global leader in digital asset compute, dedicated to advancing sustainable blockchain infrastructure. The company secures the Bitcoin network while transforming underutilized energy into economic value—supporting both technological innovation and environmental responsibility.
Through strategic scaling, operational excellence, and a disciplined capital strategy, MARA aims to deliver long-term shareholder value in the rapidly evolving digital economy.
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