Despite the decline, the US$5.89 billion market cap miner maintained its energized hashrate at December levels without deploying new equipment, according to CEO Fred Thiel.
As the firm announced in a press release, operational updates include converting 230 containers to immersion cooling at its Texas site — a move expected to boost efficiency without raising power use. MARA’s Nebraska facility is nearing full deployment of S21 Pro miners, aiming to improve fleet productivity. The company plans 2025 capacity expansions using “near net zero cost” energy solutions, per its unaudited report.
“In January, our production saw a 12% month-over-month decline in blocks won, largely due to fluctuations in network difficulty and intermittent curtailment,” said Thiel.
“After a very busy end of 2024 during which we relocated and brought online over 100,000 miners, our energized hashrate remained consistent with December, as no new miners were brought online during the month.”
MARA’s average daily Bitcoin output fell to 24.2 from 27.9 month-over-month, with transaction fees representing a smaller share of rewards. Recent upgrades follow MARA’s 2024 milestones, including a 15% hashrate increase to 53.2 EH/s and 44,893 BTC holdings worth US$4.2 billion.
MARA’s production dip highlights Bitcoin mining’s exposure to network dynamics, but efficiency upgrades could offset volume declines.