Loading...
•
Jun 30, 2024
Marathon Digital Q2 2024 Earnings Report
Marathon Digital's revenue increased by 78% to $145.1 million, but a fair market value loss of $148.0 million resulted in a net loss of $199.7 million.
Key Takeaways
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.
Revenue increased 78% to $145.1 million compared to Q2 2023.
Net loss increased to $199.7 million, or $0.72 loss per diluted share.
Adjusted EBITDA decreased to a loss of $85.1 million.
Installed hash rate reached an all-time high of 31.5 exahash.
Marathon Digital
Marathon Digital
Forward Guidance
Marathon Digital is targeting 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025.