MARA Holdings, Riot Platforms, CleanSpark Shares Rise Following Bitcoin Production Updates: Here's How The Miners Stacked Up In May

Bitcoin BTC/USD mining stocks MARA Holdings Inc MARA, Riot Platforms Inc RIOT and CleanSpark Inc CLSK are moving higher on Tuesday. Each of the companies released production updates for May.

MARA Production Update: MARA Holdings mined 950 bitcoin in May, up 35% on a month-over-month basis. The company said it won 282 blocks last month, up 38% compared to the prior month. MARA Holdings held a total of 49,179 bitcoin as of May 31 after opting not to sell any holdings during the period.

MARA Holdings reported a total energized hashrate of 58.3 EH/s at month’s end, up from 57.3 EH/s at the end of April.

“Our fully integrated tech stack is a key differentiator, and MARA Pool is the only self-owned and operated mining pool among public miners, offering greater control and efficiency. Operating our pool means no fees to external operators and retention of the full value of block rewards. Production in May also benefitted from block reward luck,” said Fred Thiel, chairman and CEO of MARA Holdings.

MARA Holdings shares were up 5.47% at $15.15 at the time of publication Tuesday, according to Benzinga Pro.

RIOT Production Update: Riot mined 514 bitcoin in May, up 11% month-over-month and 139% on a year-over-year basis. The company said it held 19,225 bitcoin at the end of the month.

Riot increased its deployed hashrate to 35.4 EH/s during the month, up from 33.7 EH/s in April and up 142% year-over-year.

“In May, Riot made significant progress across our bitcoin mining and data center platforms. Riot mined 514 bitcoin in May, an 11% increase over the previous month, and we will continue to prioritize operational excellence as we head into the summer months in Texas and Kentucky,” said Jason Les, CEO of Riot.

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Riot shares were up 4.42% at $8.85 at last check on Tuesday, per Benzinga Pro.

CLSK Production Update: CleanSpark mined 694 bitcoin in May, up about 10% on a month-over-month basis. CleanSpark said it held a total of 12,502 bitcoin at the end of the month after selling 293.5 bitcoin during the period.

CleanSpark closed out May with an operating hashrate of 45.6 EH/s, up 7.5% from 42.4 EH/s at the end of April.

“As we enter June, we’re positioned to become the first public Bitcoin miner to achieve 50 EH/s entirely through self-operated infrastructure. This milestone reflects the strength of our vertically integrated model, allowing us to scale efficiently, retain operational control, and protect margins,” said Zach Bradford, president and CEO of CleanSpark.

CleanSpark shares were up 4.70% at $9.01 at the time of publication Tuesday, according to Benzinga Pro.

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Photo: OlegD/Shutterstock.