Marathon Digital Holdings (MARA) has significantly increased its bitcoin holdings and refined its institutional crypto strategy through a new partnership with Two Prime. The miner acquired a minority stake in the institutional cryptocurrency investment firm, elevating its direct bitcoin allocation from 500 BTC to 2,000 BTC.
This strategic collaboration utilizes Two Prime’s expertise in institutional bitcoin management and yield generation. The move reflects a growing industry trend where miners combine traditional operations with financial strategies similar to those used by entities like MicroStrategy, focusing on treasury management and yield products.
Despite reporting increased quarterly revenue of $214 million, MARA faced substantial challenges, including a net loss of $533 million. Rising energy costs and reduced bitcoin block rewards continue to pressure profitability for major mining firms.
The partnership with Two Prime aims to optimize MARA’s bitcoin holdings and explore diversification opportunities, including high-performance computing (HPC) applications. This mirrors strategies pursued by other industry players such as Core Scientific and HIVE Digital Technologies seeking new revenue streams.
The broader mining landscape remains dynamic, underscored by Core Scientific’s acquisition by GPU cloud provider CoreWeave in a deal valued at $9 billion.