2 years ago
Marathon Digital (MARA), 1 of the largest publically traded bitcoin miners successful North America, reported fourth-quarter gross of $60.3 million, an summation of 17% from the previous quarter but somewhat beneath analysts' mean estimation of $60.9 million, according to FactSet data.
Adjusted net came successful astatine $0.36 per share, conscionable up of analysts' estimation of $0.35.
The miner produced 1,098 self-mined bitcoins successful the 4th quarter, down astir 12% from 1,252 bitcoins generated successful the erstwhile 4th but up astir 600% from the twelvemonth agone quarter, according to the company's earnings property release.
“While attraction to the powerfulness generating presumption successful Hardin, MT materially impacted our bitcoin accumulation successful November, we inactive produced 1,098 bitcoin successful the 4th fourth and ended the twelvemonth with our astir productive period to date, producing 484.5 bitcoin successful December alone,” Marathon Digital CEO Fred Thiel said successful the release, referring to the company's information halfway successful Montana.
Marathon held astir 8,956 bitcoin arsenic of Feb. 28, which astatine a marketplace terms of $43,193, was worthy astir $386.8 million, the institution said.
“We judge Marathon remains good positioned to make astir 23.3 EH/s and for our mining operations to beryllium 100% c neutral by aboriginal 2023,” Thiel added.
The miner generated $150.5 cardinal successful gross successful 2021, up sharply from $4.4 cardinal successful 2020.
Shares of Marathon Digital were up 0.4% successful post-market trading Tuesday aft rising astir 3% during regular trading hours, portion the terms of bitcoin roseate astir 2% connected Tuesday.
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Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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