Penn State men's basketball players Tim Frazier and D.J. Newbill take part in the annual Thon pep rally Saturday night at the Bryce Jordan Center.

Penn State's annual 46-hour, no-sitting-or-sleeping dance marathon ended this afternoon and raised $13.34 million for pediatric cancer research and to provide support for patients, breaking last year's total of $12.37 million.

A jam-packed arena of students, pediatric cancer patients, survivors and their families welcomed the announcement of the record for the annual THON fundraiser.

Officially called the Penn State Interfraternity Council/Panhellenic Dance Marathon, the event is billed as the largest student-run philanthropy in the world. Students dance — and remain upright — on the floor of the school's Bryce Jordan Center to raise money for the Penn State Hershey Children's Hospital.

With today's total, students have raised more than $114 million for the Four Diamonds Fund at Penn State Hershey Children's Hospital since 1977. Part of the money is raised on weekend out-of-town trips, when students stand on street corners and outside businesses and ask for donations. Other fundraising efforts are made throughout the weekend.

This year's marathon ran from 6 p.m. Friday through 4 p.m. today.

"I think it's important to us that we raise as much money as we can to support the families," THON spokeswoman Dana Giacobello said.