Why MARA Holdings Stock Gained 17% This Week

Core Insights - MARA Holdings' shares increased by 17.3% this week, primarily driven by its Bitcoin mining results for June [1] Group 1: Bitcoin Mining Performance - MARA Holdings won 211 blocks in June's Bitcoin mining operations, accounting for 5.4% of all available Bitcoin mining rewards [2][4] - The current reward for mining a block is 3.125 Bitcoins, awarded approximately every 10 minutes [3] - The number of blocks won in June was 23% lower than May's total of 282, attributed to a shorter month and temporary shutdowns of mining rigs due to weather [5] Group 2: Future Production Targets - Management has set a year-end production target of 75 exahashes per second (EH/s), which is 40% higher than the 53 EH/s achieved at the end of 2024 and 31% more than the current rate of 57.4 EH/s [5] Group 3: Bitcoin Holdings and Market Capitalization - By the end of June, MARA held 47,940 Bitcoins, making it the second-largest public company in terms of Bitcoin holdings, following Michael Saylor's Strategy [6] - The current value of MARA's Bitcoin holdings is approximately $5.47 billion, representing over 88% of the company's total market capitalization [7]