4 months ago
Marathon Digital Holdings reported a grounds nett income of $337.2 cardinal successful 2024’s archetypal quarter.
The firm’s quarterly nett income, published successful its May 9 net report, represents 184% year-over-year maturation from $118.7 cardinal successful the archetypal 4th of 2023.
EPS for the 4th stood astatine $1.26 per diluted share
The institution reported grounds revenues of $165.2 cardinal successful the archetypal 4th of 2024, representing 223% year-over-year maturation from $51.1 million.
Marathon holds $1.6 cardinal successful combined unrestricted cash, currency equivalents, and Bitcoin arsenic of March 31.
Mining output
Marathon besides described accrued Bitcoin output and infrastructure growth.
The institution produced 2,811 BTC during the archetypal quarter, worthy $176 cardinal astatine existent marketplace prices. In the archetypal 4th of 2023, it produced 2,195 BTC, marking 28% year-over-year growth.
The institution reported an energized hash complaint of 27.8 exahashes per 2nd (EH/s), up 142% from 11.5 EH/s successful the archetypal 4th of 2023.
Marathon aims to execute 50 EH/s, oregon 100% maturation successful hash rate, by the extremity of 2024.
Marathon besides closed respective information halfway acquisitions, doubling its integer plus compute capableness to 1.1 gigawatts. More than fractional of the afloat magnitude exists connected sites that the institution straight owns oregon operates.
Marathon enters S&P rankings
Marathon’s latest results travel soon aft the firm’s addition to the S&P SmallCap 600. Marathon banal (MARA) gained 18% alongside the improvement connected May 6.
The firm’s latest net study has not coincided with specified a melodramatic terms change. MARA was down 2.19% connected May 9 but up 1.22% aft hours pursuing its net release.
Despite insignificant losses, Marathon Digital Holdings remains the largest publically traded Bitcoin mining firm, with a marketplace headdress of $5.36 billion.
Marathon’s competitors person besides published caller reports. Core Scientific reported $210.7 cardinal successful nett income and 2,825 BTC mined successful the archetypal 4th connected May 9. Stronghold reported accrued net but a debased valuation and imaginable merchantability connected May 2. Cleanspark reported monthly information connected May 3.
The station Marathon reports grounds $337.2 cardinal nett income successful Q1 2024 appeared archetypal connected CryptoSlate.
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