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MARA Holdings, Inc. (NASDAQ: MARA) stock is up 2.81% today, at the time of writing, as the mining company announced an update on its bitcoin operations for July 2025, reporting a decrease in bitcoin production but an increase in its bitcoin holdings. In July, the company mined 703 BTC, a 1% decrease from June’s 713 BTC, citing the decrease came as Bitcoin’s mining difficulty increased by 9%, and hashrate continued to climb.

“In July, our production saw a 2% month-over-month decrease in blocks won as global hashrate rebounded following seasonal curtailment and mining difficulty was 9% higher than the end of June,” said the chairman and CEO of MARA Fred Thiel. “Our bitcoin holdings surpassed 50,000 BTC in July, a milestone that solidifies MARA as the second-largest publicly traded holder of bitcoin globally. More importantly, this is a treasury we built through disciplined infrastructure development, scaled operations, and focused execution.

Despite this dip in production, MARA’s bitcoin holdings surpassed 50,000 BTC for the first time,  strengthening its position as the second largest publicly traded bitcoin holder. The company also reported a 3% increase in its energized hashrate, which now stands at 58.9 EH/s.

“We increased our energized hashrate by 3% over the previous month, and we are preparing to begin energizing the data center at our Texas wind farm in the second half of the year,” Thiel stated. “Although we encountered higher than expected curtailment at our Ohio sites, our teams improved operational efficiency at Wolf Hollow and Kearney by boosting productivity and streamlining the supply chain.”

While operations in Ohio saw higher curtailment, MARA’s sites in Texas, including Wolf Hollow and Kearney, became more efficient. As of July 31, 2025, the company holds 50,639 BTC, including loaned and pledged assets.

“Looking ahead, what sets us apart is our thought leadership, worldwide operational scale, and capital and operational efficiency,” he added. “As of June 30, 2025, we held over $5 billion in liquid assets, and with nearly $1 billion raised since, we have the flexibility to fund domestic growth and pursue international expansion. Unlike passive treasury companies, we treat our bitcoin as a productive, risk-managed asset. Through a disciplined asset management strategy, our holdings strengthen the balance sheet and help fund operations, which we believe will enhance long-term shareholder value. We don’t just hold bitcoin, we put it to work.”

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