Bitcoin mining company MARA's interest income reached $8.7 million in the first three quarters of last year
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Odaily reports that the listed Bitcoin mining company MARA has lent 7,377 BTC to a third party to generate revenue, which is about 16% of its total reserves. MARA did not disclose the identity of the third party borrowing its BTC. MARA's Vice President of Investor Relations, Robert Samuels, stated that these loans are "short-term arrangements with well-known third parties." He added that the company is generating "moderate returns" and has been actively engaged in such lending throughout 2024. He further stated that the "long-term goal is to generate enough revenue to offset operating expenses." Additionally, MARA reported that its interest income for Q3 2024 was $3.9 million, primarily from interest generated on the cash on its balance sheet and the BTC it has lent out. The company generated $4.8 million in interest income in the first half of 2024 (although this income was not mentioned in previous filings). As for other developments, MARA reported that it has surpassed the 50 EH/s hashrate milestone, with an energized hashrate of 53 EH/s as of the end of last year. The company has maintained an actual hashrate of around 47 EH/s, consistent with its performance in November.
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