Marathon Digital (MARA) has expanded its bitcoin treasury to 52,850 BTC, now valued at $6.4 billion following the addition of 373 BTC in September 2025.
MARA strengthens its bitcoin position
The company mined a total of 736 BTC last month, a 4.4% increase over August, and accounted for 5.2% of all miner rewards, including transaction fees.
This performance keeps MARA as the leading public mining company by bitcoin holdings, though the total includes coins that are loaned, managed, or pledged as collateral.
According to public bitcoin treasury data, MARA is second only to MicroStrategy, which recently raised its own total to 640,031 BTC.
operational growth and network trends
MARA reported the successful production of 218 blocks in September and a 1% monthly increase in energized hashrate, reaching 60.4 EH/s.
All mining containers at the Texas wind farm are now fully operational, making MARA one of the few public companies exceeding 50 EH/s. Chairman and CEO Fred Thiel noted:
“In September, we produced 218 blocks, a 5% increase over August, demonstrating the continued strength and resilience of our operations even as global hashrate grew 9% month-over-month.”
Bitcoin itself closed September up 5.4% at $120,373, surpassing $120,000 for the first time since its August peak.
industry competition and mining stock performance
Despite strong production, MARA has dropped to third in market capitalization among public mining firms, now behind IREN and Riot Platforms.
The company’s share price has climbed 20% over the past month, reflecting overall sector recovery, but its market value remains just under $7 billion.
cango and other miners expand treasuries
Elsewhere, Cango increased its holdings to 5,810 BTC after producing 616.6 BTC in September at a deployed hashrate of 50 EH/s.
Cango now ranks 18th among public bitcoin holders. CEO Paul Yu highlighted ongoing expansion into high-performance computing and a continued focus on maximizing hashrate efficiency.
For a comprehensive view of public miner treasuries and their bitcoin reserves, see the bitcoin mining company holdings tracker.
