Bitcoin mining firm MARA Holdings (MARA) significantly increased its Bitcoin holdings in the past year, nearing a value of $5 billion. Q1 results show a dramatic increase from 17,320 BTC at the end of Q1 2024 to 47,531 BTC currently. However, production fell by 19%, leading to slightly missed earnings expectations for the quarter. This growth puts MARA in second place among publicly traded companies with Bitcoin holdings, trailing only Strategy (MSTR). Despite this positive news, the firm’s stock price dropped after initial gains and it is now trading at $14.20, down nearly 2% in after-hours trading. The market witnessed a surge in Bitcoin prices, which currently stand at $102,660, as the Bitcoin halving event impacted mining rewards. Notably, other Bitcoin miners faced similar challenges, with many missing revenue expectations for the quarter.