MARA Holdings, a prominent American bitcoin (BTC) miner and the world’s third-largest corporate BTC holder, has released its bitcoin production and mining operations update for June 2025. Despite many mining challenges, it has boosted its strategic reserve by 713 BTC.
Notably, June wasn’t as profitable and fulfilling for the firm as May, when it mined about 950 bitcoins. MARA’s CEO, Fred Thiel, called May a record-breaking month and revealed it was the company’s most profitable month since the April 2024 bitcoin halving event.
MARA Aims for 50,000 BTC Milestone
Concluding June, MARA now holds 49,940 BTC, just 60 units away from hitting the 50,000 BTC mark. Due to MARA’s approach of keeping its mined BTC and periodically purchasing the crypto from the market, it has no defined average purchase price. However, its big bitcoin bag is valued at approximately $5.3 billion, by the spot bitcoin price of $107,100.
“We’re excited to be approaching 50,000 bitcoin, a testament to the scale of our operations and the strength of our strategy. This milestone reflects our disciplined approach to accumulating bitcoin through both mining and strategic purchases, and our continued commitment to building long-term value for our shareholders,” Thiel commented on MARA’s June 2025 operations.
Meanwhile, MARA holdings also include 15,534 BTC allocated across various arrangements such as loans, collateral pledges, and a separately managed account.
Institutional BTC Buyers Exceed ETFs
The percentage of public companies adopting a strategic bitcoin reserve has risen over the past few years as more firms follow in the footsteps of MARA Holdings and other publicly traded bitcoin investors. According to recent analysis, in Q2 2025, institutional bitcoin investors bought more units of the leading crypto than exchange-traded funds (ETFs) did for the third consecutive quarter.
Since 2020, the leading institutional BTC holder is the American business intelligence firm, Strategy. It recently purchased 4,890 bitcoins and now holds 597,325 BTC. Japanese crypto giant Metaplanet also purchased 1,005 BTC for $108.1 million and currently has 13,350 BTC.
Meanwhile, newer companies are on track to establish their strategic BTC reserves through ongoing fundraising projects.
