MARA Holdings (MARA) reported that its bitcoin (BTC) holdings climbed to 52,477 BTC as of Aug. 31, after the crypto mining company produced 705 BTC during the month.

The company mined 208 blocks, maintaining a 4.9% share of network rewards. Energized hashrate rose 1% month-over-month to 59.4 exahashes per second (EH/s). MARA opted not to sell any BTC in August, with management noting that the price decline provided an opportunity to grow reserves.

The largest cryptocurrency fell more than 6% in August, the worst performance since February.

“Given the decline in bitcoin price during the month, we took the opportunity to strategically add to our treasury and currently hold over 52,000 BTC,” said CEO Fred Thiel.

MARA remains on track to complete its Texas wind farm buildout by the fourth quarter, with all miners on-site and connected. Internationally, the company signed an agreement to buy a 64% stake in Exaion, a subsidiary of EDF, with the option to increase to 75% by 2027. The deal aims to integrate MARA’s infrastructure with AI and edge solutions.

MARA also opened its European headquarters in Paris, reinforcing its focus on sustainability, grid partnerships and the repurposing of unused energy.

MARA shares fell 5% on Thursday and are down 14% year to date.