Marathon Digital Earnings Reports

Marathon Digital Holdings, Inc. reported record revenues for the fourth quarter of 2024, driven by an increase in the average price of Bitcoin mined. The company's transition to a vertically integrated energy and digital infrastructure company contributed to improved operational control and efficiency. Net income increased significantly compared to the prior year, primarily driven by an increase in operating income and the change in fair value of digital assets.

Marathon Digital reported a net loss of $125 million, or $0.42 loss per diluted share, in Q3 2024, compared to a net loss of $390 thousand in the same quarter last year. Revenue increased 35% to $132 million from $98 million in Q3 2023, driven by a higher average price of BTC. The company's BTC holdings increased by 45% to 26,747 BTC, and it secured a $200 million line of credit collateralized by BTC holdings.

Marathon Digital reported a 78% increase in revenue to $145.1 million for Q2 2024. However, the company experienced a net loss of $199.7 million due to a $148.0 million fair market value loss. The company produced 2,058 BTC, averaging 23 BTC per day.

Marathon Digital Holdings reported a record first quarter in 2024, with revenues increasing by 223% to $165.2 million and net income increasing by 184% to $337.2 million, or $1.26 per diluted share. The company's adjusted EBITDA also increased by 266% to $528.8 million. This growth was driven by strategic acquisitions and leveraging Bitcoin's positive momentum.

Marathon Digital Holdings reported a record fourth quarter with a 452% increase in revenue to $156.8 million and net income of $151.8 million. The company produced 4,242 bitcoin during the quarter and saw substantial improvement in adjusted EBITDA.

Marathon Digital Holdings reported a net income of $64.1 million, or $0.35 per diluted share, compared to a net loss of $72.5 million in the same period last year. Revenues significantly increased to $97.8 million, driven by a 467% increase in bitcoin production and higher average bitcoin prices.