MARA Reports 12% Decline in Bitcoin Mining in January
Date: 2025-02-04 Author: Henry Casey Categories: BUSINESS
MARA Holdings, one of the world's leading Bitcoin mining firms, has announced a significant decline in its mining output for January 2025. According to the company, the figure was down 12% from December 2024, when 249 bitcoins were mined. As a result, the company's assets increased to 44,893 BTC by the end of 2024.
MARA Holdings CEO Fred Thiel noted that the decline in mining was due to increased network difficulty, which made mining more difficult. Periodic equipment outages also affected the results. Despite this, the company's hashrate in January remained at the same level as in December, and no new mining devices were added during the month.
Unlike MARA, other major players in the market, such as Riot Platforms, increased their mining output at the beginning of the year. This allows them to remain competitive in the changing market conditions.
However, the decrease in production has not affected the company's strategic plans. MARA continues to upgrade its facilities, which, according to company representatives, should have a positive impact on the results in the future. For example, since the beginning of the year, most of the equipment at the Texas facility has been converted to immersion cooling, which should help improve efficiency.
In addition, at one of the facilities in Nebraska, the company is completing the replacement of older devices with more modern S21 Pro miners, which promise to improve hashrate performance and reduce energy consumption.
According to MARA, all these steps are aimed at long-term improvement of the equipment, which should allow the company to increase its competitiveness and reduce mining costs. As a result, the company hopes to not only restore but also increase its Bitcoin mining volumes in the coming months, despite the challenges it faces.
