MARA has record-breaking bitcoin month, stock rises

MARA Holdings, the second-largest corporate bitcoin holder, had a record-breaking month in May, with 282 blocks won, a 38% month-over-month increase.

“Our total bitcoin holdings surpassed 49,000 BTC during May and the 950 bitcoin produced were the most since the halving event in April 2024,” CEO and Chairman Fred Thiel said in a press release.

The bitcoin miner now holds 49,179 bitcoin. Shares were up over 4% in early trading Tuesday.

MARA said that key drivers include its “fully integrated tech stack,” adding that MARA Pool, “the only self-owned and operated mining pool among public miners,” enables greater efficiency.

Fellow bitcoin miner Riot Platforms produced 514 bitcoin in May, an 11% month-over-month increase. It now holds 19,225 bitcoin and is the fourth-largest bitcoin holder. It was recently pushed down one spot by newcomer Twenty One, the bitcoin-native company launched in May.

Meanwhile, Strategy, the original and largest stockpiler, also added more bitcoin yesterday, buying 705 bitcoin for $75.1 million. The company now holds 580,955 bitcoin.

TD Bank analysts wrote that Strategy’s purchase was “a weekly first,” as the acquisition was “financed entirely via its two preferred stock ATM facilities.”

“Though weekly dollars raised was modest at $75 mil, issue price for both STRK and STRF shares hit new high water marks, with average prices well above stated value,” TD Cowen analysts wrote. “The transactions are likely to generate superior accretion for common stockholders, we believe, relative to the MSTR ATM.”

Strategy also announced that it will offer 2.5 million preferred shares of its 10.00% Series A Perpetual Stride Preferred Stock, dubbed the “STRD Stock,” to purchase more bitcoin.

Japanese company Metaplanet, the top Asian bitcoin corporate holder, acquired 1,088 bitcoin for $117.3 million. The company now holds 8,888 bitcoin, “a symbol of abundance” and “a number of fortune,” CEO Simon Gerovich posted on X.

This latest purchase propelled the company to the 10th global spot, overtaking Block.