MARA Holdings, a publicly listed Wall Street Bitcoin miner, announced it is lending 7,377 BTC to third parties to generate returns and cover operating costs.

The program, disclosed in a report released last week, represents 16% of the company's total Bitcoin holdings. However, MARA did not disclose the identities of the borrowers or further details about the lending program.

Lending Program Focuses on Short-Term Agreements

The company’s Vice President, Robert Samuels, stated the yield from this lending activity is under 10%. The program has been active throughout 2024, focusing on short-term agreements with established third parties.

“There has been significant interest in MARA's bitcoin lending program,” Samuels posted.

“It focuses on short-term arrangements with well-established third parties. It generates a modest single-digit yield. It has been active throughout 2024. The long-term objective is to generate sufficient yield to offset operating expenses,” he shared.

MARA Sees 2% Decrease in December Bitcoin Production

In its production report, MARA noted a 2% decrease in Bitcoin production from November, with 890 BTC mined in December. This remains the second-largest monthly production since April's reward halving . The company also mined 249 blocks, the second-highest block count in a month.

MARA's 2024 bitcoin acquisition totaled 22,065 BTC at an average price of $87,205, with 9,457 BTC mined. This brings its total holdings to 44,893 BTC. The company's stock rose 2.60% in pre-market trading and is up 14% since the start of the year.

MARA Follows MicroStrategy’s Debt-to-BTC Strategy

Last November, MARA acquired 6,474 Bitcoin through a $1 billion zero-interest convertible note offering, bringing its total holdings to 34,797 BTC. This follows the debt-to-BTC strategy pioneered by MicroStrategy, highlighting increasing institutional adoption of cryptocurrency treasury management, as reported by Finance Magnates.

The company purchased 6,474 BTC at an average price of $95,395 per coin, including 703 BTC from a recent acquisition. The move raised its Bitcoin treasury to about 34,797 BTC, valued at $3.3 billion. MARA also completed a $1 billion offering of 0% convertible senior notes due 2030 and a partial buyback of 2026 notes.