Key Takeaways
- MARA produced 950 BTC in May—its highest output since the April 2024 halving.
- The firm held all newly mined BTC, boosting its reserves to 49,179 BTC.
- Riot Platforms mined 514 BTC, up 139% year-over-year, with improved efficiency metrics.
Bitcoin (BTC) miners posted strong results in May, with MARA (formerly Marathon Digital) and Riot Platforms both reporting sharp gains in production.
The performance comes amid ongoing consolidation across the mining sector and increased post-halving competition for block rewards.
MARA Posts Record Production
MARAs May output reached 950 BTC, up 35% from April’s 705 BTC, marking the company’s highest monthly total since the halving.
It also reported a 38% increase in blocks won and a 31% jump in average daily production to 30.7 BTC.
The firm’s share of global mining rewards climbed to 6.5%, while transaction fees rose modestly to 1.5% of revenue.
MARA’s energized hash rate also saw a small uptick to 58.3 EH/s, reflecting continued infrastructure expansion.
Notably, the company didn’t sell any Bitcoin in May, aligning with its accumulation strategy.
Its total holdings now sit at 49,179 BTC , second only to Strategy among public firms.
“May was a record-breaking month,” said MARA Chairman and CEO Fred Thiel, noting that the team remains focused on building a vertically integrated digital energy and infrastructure business to weather broader market shifts.
“Our total Bitcoin holdings surpassed 49,000 BTC during May, and the 950 Bitcoin produced were the most since the halving event in April 2024,” Thiel added.
“We believe this model gives us tighter operational control, improves cost-efficiency, and makes us more resilient to shifts in the broader economy,” he concluded.
Riot Platforms Sees Output, Efficiency Gains
Riot Platforms also delivered strong numbers in May, producing 514 BTC, an 11% monthly increase and a 139% jump year-over-year.
The firm sold 500 BTC for $51.3 million at an average price of $102,591, a 32% increase from April.
Riot’s average operating hash rate hit 31.5 EH/s, up 260% year-over-year, while fleet efficiency improved to 21.2 J/TH.
Demand response incentives rose 22%, contributing to $2.2 million in total energy credits for the month. The miner’s Bitcoin holdings now stand at 19,225 BTC.
Together, the results from MARA and Riot underscore strong post-halving resilience among public miners—though rising competition and energy costs remain key challenges heading into the second half of 2025.
