Bitcoin (BTC) miner MARA Holdings (MARA) will provide 500 BTC to broker Two Prime for generating yields, the companies said on Thursday.
The deal will enhance the existing partnership between the two crypto firms, the SEC-registered Two Prime has provided bitcoin-backed loans to MARA.
Recently, MARA announced its first-quarter results which missed Wall Street-estimates. However, the company’s focus on cost-cutting was viewed positively by analysts.
Read more: Bitcoin Miner MARA Stock Surges Despite Earnings Miss as Analysts Applaud Cost Cutting
“MARA has one of the largest bitcoin corporate treasuries in the world, and they’re setting the standard for how institutional holders can responsibly unlock its value,” Two Prime CEO, Alexander Blume said in a press release.
“This expanded partnership is about more than just yield – it’s about building a model for capital efficiency, transparency, and risk-aware innovation in digital asset management,” Blume added.
Last month, many listed bitcoin miners were forced to cash out some of their holdings, according to TheMinerMag. The mining news outlet’s latest research revealed that public miners sold 115% of their bitcoin production in April — meaning they sold more than they produced. That is the highest ratio since the tail end of the 2022 bear market.
Read more: Bitcoin Miners Sold Record Amount of BTC Ahead of May’s Price Surge
UPDATE (May 22, 11:00 UTC): Adds comment from Two Prime and background on bitcoin miners.
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