MARA, MicroStrategy Stocks Gain Retail Attention With Bitcoin Production And Acquisition Updates
By Stocktwits Inc | First Published Dec 2, 2024, 9:41 PM ISTMARA’s Bitcoin production rose 26% to 907 in November compared to the previous month while it mined 254 blocks, up 27% on a sequential basis.
Shares of MARA Holdings Inc (MARA) fell nearly 4% on Monday after the firm announced its production and mining operation updates for November 2024.
The company’s Bitcoin production rose 26% to 907 compared to October while it mined 254 blocks, up 27% on a sequential basis.
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MARA CEO Fred Thiel said November was a record-breaking month for the company, with its mining operations achieving unprecedented levels of production driven by the successful deployment of additional miners and enhanced operational efficiency.
"Our BTC production grew 26% month-over-month to 907 BTC and energized hash rate increased to 46.1 EH/s, a 15% increase over October. Notably, a portion of our bitcoin and hash rate was acquired outside of our own mining pool,” he said.
As of the end of November, the firm has acquired 12,965 BTC year-to-date at an average price of $77,692 and mined an additional 8,563 BTC. MARA now holds a total of 34,959 BTC, valued at $3.3 billion based on a spot price of $95,000 per BTC.
Following the announcement, retail sentiment on Stocktwits flipped into the ‘bullish’ territory (63/100) from ‘bearish’ a day ago.
Meanwhile, MicroStrategy Inc (MSTR), the largest corporate holder of Bitcoin, announced that during the period between Nov. 25, 2024 and Dec. 1, 2024, the company acquired approximately 15,400 bitcoins for approximately $1.5 billion in cash, at an average price of approximately $95,976 per bitcoin.
As of Dec. 1, 2024, the company, along with its subsidiaries, held an aggregate of approximately 402,100 bitcoins, which were acquired at an aggregate purchase price of approximately $23.4 billion and an average purchase price of approximately $58,263 per bitcoin.
Following the update, retail sentiment on Stocktwits flipped into the ‘bullish’ territory (58/100) from ‘neutral’ a day ago.
MSTR shares have rallied a whopping 469% on a year-to-date basis while MARA shares have risen just over 14% during the period. Meanwhile, Bitcoin has surged over 119% year-to-date.
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