MARA Holdings mined 736 BTC in September and maintains a 52,580 BTC treasury. The September output exceeded August’s total, and the stockpile places the firm among the public companies that hold the most Bitcoin as institutional investors and financial counterparties weigh that reserve when they gauge crypto exposure. Report that higher output shows steady operations despite swings in network hashrate and market prices.
The same summary sets September production at 736 BTC, four percent above August’s 705 BTC and lists treasury size as 52,580 BTC, while a second source in the summary gives 52,850 BTC. A reference price of $121,000 per Bitcoin and reaches a balance value near $6.4 billion.
The referenced report credits MARA with 218 mined blocks during the month and links the rise to three drivers: new, more efficient rigs, cheaper energy contracts and active treasury moves. Some coins sit in loan agreements, active trading or collateral pledges, with each tranche carrying a distinct liquidity tag and risk profile. Technical definition: hashrate counts the total computation that secures Bitcoin transactions.
September production, treasury size and drivers
The steady build up leaves MARA as the second largest public Bitcoin holder behind MicroStrategy, the summary says. The balance sheet moves in step with BTC price, so volatility hits harder; if coins are lent or pledged, liquidity and counterparty risk rise; equity buyers seeking Bitcoin exposure without wallets may buy the stock; and profit per new coin hinges on power cost and rig efficiency. Institutional investors and financial counterparties continue to weigh the reserve when they gauge crypto exposure.
The next checkpoint is the quarterly report on output and treasury size, which will show whether the hoard keeps growing and whether the side ventures stay in place.
