MARA adds 373 BTC to bitcoin stack in September as total holdings exceed $6 billion

MARA has increased its bitcoin stack to 52,850 BTC, worth $6.4 billion, according to its latest monthly production update, which equates to a net addition of 373 BTC in September.

The firm mined a total of 736 BTC ($88.6 million) last month, up 4.4% from its 705 BTC haul in August, and representing a 5.2% share of all bitcoin miner rewards, including transaction fees during the period. As a result, the firm remains the largest holder of bitcoin among public bitcoin miners, according to Bitcoin Treasuries data. However, this total includes bitcoin that is loaned, actively managed, or pledged as collateral, MARA noted.

MARA also remains the second-largest public bitcoin holder overall behind Michael Saylor’s Strategy, which announced the acquisition of another $22 million worth of bitcoin on Monday, taking its substantial treasury to a total of 640,031 BTC ($77 billion). Tether-backed Twenty One, Metaplanet, and the Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company comprise the remainder of the top five, holding 43,514 BTC, 30,823 BTC, and 30,021 BTC, respectively.

MARA wins 218 bitcoin blocks in September

“In September, we produced 218 blocks, a 5% increase over August, demonstrating the continued strength and resilience of our operations even as global hashrate grew 9% month-over-month to an average of 1,031 EH/s,” MARA Chairman and CEO Fred Thiel said in a statement. “This growth in production underscores our ability to execute consistently, even as mining becomes more difficult.”

Despite a late September correction, bitcoin closed the month up 5.4%. The foremost cryptocurrency is currently trading at $120,373, according to The Block’s BTC price page, up around 10% over the past week to surpass the $120,000 for the first time since Aug. 14’s all-time high of nearly $125,000.

MARA’s energized hashrate also grew 1% month-over-month in September to 60.4 EH/s, with all containers at its Texas wind farm now fully deployed. MARA is one of the few public operators controlling more than 50 EH/s, alongside IREN, CleanSpark, and Cango. Bitcoin’s average total network hashrate recently broke the one zetahash per second milestone.

MARA’s share price has increased by 20% over the past month, amid a broad rebound across the public bitcoin mining sector, and has recovered to year-to-date gains of 7.6%, according to The Block’s MARA price page. However, amid contrasting fortunes in the industry, MARA recently lost its status as the largest public mining firm by market cap to rivals IREN and Riot Platforms. IREN has a current market cap of around $12.8 billion compared to Riot Platforms’ $7.1 billion, with MARA slipping to third place, valued at just under $7 billion.

Cango’s bitcoin treasury reaches 5,800 BTC

Cango also released its latest production update on Friday, producing and retaining 616.6 BTC in September at a deployed hashrate of 50 EH/s, and boosting its Bitcoin treasury to 5,810 BTC, worth about $700 million.

That places Cango at rank 18 among public Bitcoin holders, between Strive and KindlyMD, according to Bitcoin Treasuries.

“This month, we’ve grown our operational hashrate to 89.7%, and increased our bitcoin treasury to over 5,800 BTC,” Cango CEO Paul Yu said in a statement. “We remain firmly on track to unlock the full potential of our 50 EH/s, ensuring a continued upward trajectory for our hashrate. This success, supported by our global footprint and asset-light model, positions us to expand into high-performance computing (HPC), where we’ve already identified promising initiatives to create significant long-term value.”