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Mar 31, 2024
Marathon Digital Q1 2024 Earnings Report
Marathon Digital's financial performance significantly improved, marked by record revenues, net income, and adjusted EBITDA, driven by strategic acquisitions and capitalizing on Bitcoin's positive momentum.
Key Takeaways
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.
Revenues increased 223% to a record $165.2 million.
Net income increased 184% to a record $337.2 million, or $1.26 per diluted share.
Adjusted EBITDA increased 266% to a record $528.8 million.
Targeting 50 exahash of energized hash rate by the end of 2024 and additional growth in 2025.
Forward Guidance
Marathon Digital is targeting 50 exahash of energized hash rate by the end of 2024 and additional growth in 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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