Marathon Digital Holdings (MARA) had a record-breaking month in May 2025. Indeed, the crypto company mined 282 bitcoin blocks, up 38% from April, and produced 950 BTC, which was a 35% increase from the previous month. This brought MARA’s total bitcoin holdings to 49,179 BTC. Interestingly, CEO Fred Thiel credited the firm’s success to its in-house mining pool, MARA Pool, which lets it avoid paying fees to third parties and keep 100% of the mining rewards.
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The MARA Pool also performed better than average, with over 10% higher-than-expected luck in earning block rewards. This helped boost May’s results. In addition, the company’s daily bitcoin production rose from 23.5 to 30.7 BTC. MARA increased its share of total miner rewards as well, from 5.1% to 6.5%, while its total computing power (hashrate) grew slightly from 57.3 EH/s to 58.3 EH/s. The portion of earnings from transaction fees also ticked up to 1.5%.
It is worth noting that MARA didn’t sell any bitcoin in May and instead chose to hold all of its BTC. Moreover, the company stated that its fully integrated business model provides it with better control, along with the ability to cut costs and remain strong even when the economy shifts. By running its own mining technology and infrastructure, MARA believes it can remain one of the top performers in the bitcoin mining industry.
Is MARA Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on MARA stock based on four Buys, four Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average MARA price target of $19.93 per share implies 32% upside potential.
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