.png){kind=logo}
Marathon mined 950 BTC in May, marking a 35% increase despite rising network difficulty.
Classover plans to buy up to $500M in SOL, boosting its blockchain-aligned treasury strategy.
James Wynn reopened a $100M BTC long after liquidation, claiming market targeting by whales.
The cryptocurrency market today has seen major advancements in mining, treasury strategies, and high-stakes trading. Bitcoin production at Marathon Digital Holdings reached a new high, Classover Holdings announced it would purchase $500 million of Solana (SOL), and trader James Wynn reopened a $100 million buy position after previously liquidating it.
In May 2025, Marathon Digital Holdings announced that it had produced 950 Bitcoin, a 35% increase from the previous month. According to the firm’s update on June 3, it achieved a monthly high of 282 mined blocks, which was 38% higher than the total in May. This rise came despite an increase in mining difficulty and a surge in Bitcoin’s global hashrate.
MARA’s CFO, Salman Khan, mentioned that the company's success is due to its operational structure. He pointed out that running its mining pool allows Marathon to keep 100% of the rewards it receives from mining new blocks. CEO Fred Thiel emphasized that the integrated tech stack gives them a competitive edge, as MARA remains the only public miner with a fully self-operated pool. Thiel also added that block reward “luck” contributed to MARA’s block production exceeding the network average by more than 10%.
Despite the harsher mining environment, Bitcoin hashrate reached a new peak of 942 EH/s by the end of May. Difficulty rates also climbed past 126 trillion, based on Blockchain.com data. However, MARA did not sell any of its newly mined Bitcoin, which brought its total holdings to 49,179 BTC—worth approximately $5.2 billion at current market prices.
Classover Holdings, a U.S.-based edtech firm listed on Nasdaq, announced a securities purchase agreement to issue up to $500 million in senior secured convertible notes. The company confirmed that 80% of the net proceeds will go toward acquiring SOL, Solana’s native token.
CEO Stephanie Luo stated that the strategy reaffirms the company’s commitment to integrating blockchain technology into its financial operations. The new deal follows an earlier $400 million equity agreement, bringing Classover’s potential SOL financing capacity to $900 million. The company aims to build a SOL-based treasury reserve to support long-term growth and technological integration.
Following the announcement, Classover’s stock rose 39.85% during Monday’s trading session before falling 1.88% in after-hours. The company began implementing its Solana treasury strategy in May to diversify and strengthen its balance sheet with scalable digital assets.
Multimillionaire trader James Wynn opened a new $100 million leveraged Bitcoin position shortly after his previous trade was liquidated. Blockchain data from Hypurrscan shows his liquidation threshold sits at $103,630. At press time, the position showed an unrealized loss of over $592,000.
Wynn alleged on X that major market players are targeting his liquidation level. Crypto influencer Altcoin Gordon echoed this sentiment, claiming that market makers rapidly pushed BTC’s price near Wynn’s liquidation zone. Some traders have even sent donations in stablecoins to Wynn’s wallet, with the largest transfer nearing $8,000.
Wynn also said several of his accounts were closed by crypto exchanges without explanation. He believes bearish momentum is slowing and expects Bitcoin to rebound, warning that traders could be caught off guard by a sudden move.
Also Read: Massive Bitcoin Buyback: Hong Kong Firm to Invest $1.5 Billion
