From January to June, the mining company MARA sold 23,093 BTC for approximately $1.6 billion. The proceeds were utilized for operational financing, growth support, and liquidity management, as detailed in the company's report.
The average selling price during this six-month period was $70,631 per coin.
As of June 30, MARA's balance sheet included 35,577 BTC valued at $2.08 billion.
Out of this total, 9,270 BTC were involved in asset management strategies: 4,742 BTC were lent to third parties, while 4,528 BTC served as collateral.
MARA's revenue for the six months decreased to $349.5 million, down from $452.4 million a year earlier. Bitcoin mining income fell from $436.5 million to $342.2 million, despite an increase in production from 4,644 BTC to 4,669 BTC.
Source: MARA.The company attributed the revenue decline to a 23% drop in the average price of mined bitcoin, which fell to $73,707.
For the six-month period, MARA reported a net loss of $1.87 billion compared to a profit of $274.8 million in the previous year. This result was largely affected by a loss of $964.2 million due to changes in the fair value of digital assets and a loss of $397.4 million related to bitcoin that was lent and used as collateral.
Following the second quarter, MARA secured an additional $600 million through two credit lines backed by bitcoin from Coinbase and Two Prime. The initial collateral provided by the company was 18,750 BTC. Part of the funds is planned for financing the acquisition of the Long Ridge gas power plant.
It should be noted that the mining company reported a loss of $611 million for the second quarter.