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Dec 31, 2023
Marathon Digital Q4 2023 Earnings Report
Marathon Digital reported a record fourth quarter, surpassing fiscal year 2022 production and demonstrating significant revenue growth.
Key Takeaways
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.
Revenue increased by 452% year-over-year to $156.8 million.
Net income improved to $151.8 million, or $0.66 per diluted share.
Bitcoin production reached 4,242 in the fourth quarter.
Adjusted EBITDA improved to $260.4 million.
Marathon Digital
Marathon Digital
Forward Guidance
Marathon plans to grow its hash rate to approximately 35 to 37 exahash by 2024 and 50 exahash by the end of 2025.