Shares of MARA Holdings, Inc. (NASDAQ:MARA) are trading higher Tuesday after the company reported a sharp increase in Bitcoin (CRYPTO: BTC) production for May.

What To Know: The Bitcoin miner reported total production of 950 Bitcoin during the month, representing a 35% jump from April. MARA also earned a record 282 blocks, up 38% month-over-month, marking its best performance since the Bitcoin halving event in April 2024.

The production gains helped MARA grow its total Bitcoin holdings to 49,179 as of the end of May. The company confirmed it did not sell any of its Bitcoin during the month. CEO Fred Thiel attributed the record production to MARA's fully integrated tech stack and the performance of its self-owned MARA Pool, which outperformed the network average in block reward luck by over 10%.

The company emphasized the efficiency of running its own mining pool, which eliminates fees paid to external operators and allows it to retain full value from block rewards. Thiel added that MARA's strategy of becoming a vertically integrated digital energy and infrastructure company is intended to boost operational control and resilience amid economic uncertainty.

Investors responded positively to the operational update, which showed increases across key metrics including hashrate and average BTC produced per day. MARA's improved mining performance reflects strong execution as the company scales its infrastructure.

MARA Price Action: Mara Holdings shares were up 6.79% at $15.34 at the time of writing, according to Benzinga Pro.

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