On Wednesday, IREN reported mining 728 Bitcoin BTC in July, beating MARA’s 703 BTC mined despite having a smaller deployed hashrate, 50 exahashes per second (EH/s) compared to MARA’s 58.9 EH/s.

MARA’s performance in July underperformed from June but came on the back of solid second-quarter earnings that saw its revenue jump 64% year-on-year to $238 million. It also holds the second-largest Bitcoin treasury at 50,000 BTC, trailing only Michael Saylor’s Strategy.