Marathon Revenue Miss, Hash Rate Up 78%, More Than 20K Bitcoin On Balance Sheet

Benzinga08-02

Marathon Digital reported second-quarter revenue of $145.14 million, missing the consensus estimate of $157.84 million.

Marathon Digital shares were up 0.28% in after-hours trading.

The Bitcoin mining company reported an adjusted loss of 19 cents per share, missing analyst estimates for a loss of 14 cents per share.

Total revenue was up 78% year-over-year. Marathon Digital's energized hash rate increased 78% to 31.5 EH/s in the second quarter. The company said it produced 2,058 bitcoin during the quarter — down 30% year-over-year.

Marathon Digital had $1.4 billion in unrestricted cash, cash equivalents and bitcoin as of June 30. The company said it had 18,488 Bitcoin on its balance sheet at the quarter’s end and subsequently purchased an additional $100 million worth of Bitcoin, bringing total holdings up to more than 20,000 Bitcoin.

“During the second quarter of 2024, our BTC production was impacted by unexpected equipment failures and transmission line maintenance at the Ellendale site operated by Applied Digital, increased global hash rate, and the April halving event,” said Fred Thiel, chairman and CEO of Marathon Digital.

Thiel says transformer issues at the Ellendale site were “mitigated and remediated” post-quarter end, and the hash rate recovery effort is complete.

“We reached an all-time high installed hash rate of 31.5 exahash in the second quarter and continue to target 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025,” he added.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Basics101
08-04
Basics101
Thanks for the info coffee!
CoffeeAndStocks
08-02
CoffeeAndStocks
3 May to 25 July. 22M shares dilution due to insider selling employee incentives and ATM selling. More to come. The ATM is approved up to $1.5B selling at open market anytime of the day without notice to shareholder.

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The company said it had 18,488 Bitcoin on its balance sheet at the quarter’s end and subsequently purchased an additional $100 million worth of Bitcoin, bringing total holdings up to more than 20,000 Bitcoin.</p><p>“During the second quarter of 2024, our BTC production was impacted by unexpected equipment failures and transmission line maintenance at the Ellendale site operated by Applied Digital, increased global hash rate, and the April halving event,” said <strong>Fred Thiel</strong>, chairman and CEO of Marathon Digital.</p><p>Thiel says transformer issues at the Ellendale site were “mitigated and remediated” post-quarter end, and the hash rate recovery effort is complete.</p><p>“We reached an all-time high installed hash rate of 31.5 exahash in the second quarter and continue to target 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025,” he added.</p><p></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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Here’s a rundown of the report.","content":"<html><head></head><body><p>Marathon Digital reported second-quarter revenue of $145.14 million, missing the consensus estimate of $157.84 million.</p><p>Marathon Digital shares were up 0.28% in after-hours trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2a01fb36880dff7b9015229ae46f4cfd\" tg-width=\"809\" tg-height=\"847\"/></p><p>The Bitcoin mining company reported an adjusted loss of 19 cents per share, missing analyst estimates for a loss of 14 cents per share.</p><p>Total revenue was up 78% year-over-year. Marathon Digital&#39;s energized hash rate increased 78% to 31.5 EH/s in the second quarter. The company said it produced 2,058 bitcoin during the quarter — down 30% year-over-year.</p><p>Marathon Digital had $1.4 billion in unrestricted cash, cash equivalents and bitcoin as of June 30. 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Marathon Digital&#39;s energized hash rate increased 78% to 31.5 EH/s in the second quarter. The company said it produced 2,058 bitcoin during the quarter — down 30% year-over-year.</p><p>Marathon Digital had $1.4 billion in unrestricted cash, cash equivalents and bitcoin as of June 30. The company said it had 18,488 Bitcoin on its balance sheet at the quarter’s end and subsequently purchased an additional $100 million worth of Bitcoin, bringing total holdings up to more than 20,000 Bitcoin.</p><p>“During the second quarter of 2024, our BTC production was impacted by unexpected equipment failures and transmission line maintenance at the Ellendale site operated by Applied Digital, increased global hash rate, and the April halving event,” said <strong>Fred Thiel</strong>, chairman and CEO of Marathon Digital.</p><p>Thiel says transformer issues at the Ellendale site were “mitigated and remediated” post-quarter end, and the hash rate recovery effort is complete.</p><p>“We reached an all-time high installed hash rate of 31.5 exahash in the second quarter and continue to target 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025,” he added.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MARA":"Marathon Digital Holdings Inc"},"source_url":"https://www.benzinga.com/markets/cryptocurrency/24/08/40118334/marathon-digital-q2-earnings-revenue-miss-hash-rate-up-78-more-than-20k-bitcoin-on-balance","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2456049460","content_text":"Marathon Digital reported second-quarter revenue of $145.14 million, missing the consensus estimate of $157.84 million.Marathon Digital shares were up 0.28% in after-hours trading.The Bitcoin mining company reported an adjusted loss of 19 cents per share, missing analyst estimates for a loss of 14 cents per share.Total revenue was up 78% year-over-year. Marathon Digital's energized hash rate increased 78% to 31.5 EH/s in the second quarter. The company said it produced 2,058 bitcoin during the quarter — down 30% year-over-year.Marathon Digital had $1.4 billion in unrestricted cash, cash equivalents and bitcoin as of June 30. The company said it had 18,488 Bitcoin on its balance sheet at the quarter’s end and subsequently purchased an additional $100 million worth of Bitcoin, bringing total holdings up to more than 20,000 Bitcoin.“During the second quarter of 2024, our BTC production was impacted by unexpected equipment failures and transmission line maintenance at the Ellendale site operated by Applied Digital, increased global hash rate, and the April halving event,” said Fred Thiel, chairman and CEO of Marathon Digital.Thiel says transformer issues at the Ellendale site were “mitigated and remediated” post-quarter end, and the hash rate recovery effort is complete.“We reached an all-time high installed hash rate of 31.5 exahash in the second quarter and continue to target 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025,” he added.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":333929463886096,"gmtCreate":1722559054894,"gmtModify":1722562559122,"author":{"id":"4170564315967612","authorId":"4170564315967612","name":"CoffeeAndStocks","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/3b7820dfed76481d8dc4de6ac5a7a136","crmLevel":9,"crmLevelSwitch":1,"idStr":"4170564315967612","authorIdStr":"4170564315967612"},"htmlText":"3 May to 25 July. 22M shares dilution due to insider selling employee incentives and ATM selling. More to come. The ATM is approved up to $1.5B selling at open market anytime of the day without notice to shareholder.&nbsp;","listText":"3 May to 25 July. 22M shares dilution due to insider selling employee incentives and ATM selling. More to come. The ATM is approved up to $1.5B selling at open market anytime of the day without notice to shareholder.&nbsp;","text":"3 May to 25 July. 22M shares dilution due to insider selling employee incentives and ATM selling. More to come. The ATM is approved up to $1.5B selling at open market anytime of the day without notice to shareholder.","images":[{"img":"https://community-static.tradeup.com/news/d23dcacf7212b673ea1f09f4c9b30921"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/333929463886096","repostId":2456049460,"repostType":2,"repost":{"id":"2456049460","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1722553134,"share":"https://ttm.financial/m/news/2456049460?lang=&edition=fundamental","pubTime":"2024-08-02 06:58","market":"hk","language":"en","title":"Marathon Revenue Miss, Hash Rate Up 78%, More Than 20K Bitcoin On Balance Sheet","url":"https://stock-news.laohu8.com/highlight/detail?id=2456049460","media":"Benzinga","summary":"Marathon Digital Holdings Inc (NASDAQ:MARA) reported financial results for the second quarter Thursday after the bell. Here’s a rundown of the report.","content":"<html><head></head><body><p>Marathon Digital reported second-quarter revenue of $145.14 million, missing the consensus estimate of $157.84 million.</p><p>Marathon Digital shares were up 0.28% in after-hours trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2a01fb36880dff7b9015229ae46f4cfd\" tg-width=\"809\" tg-height=\"847\"/></p><p>The Bitcoin mining company reported an adjusted loss of 19 cents per share, missing analyst estimates for a loss of 14 cents per share.</p><p>Total revenue was up 78% year-over-year. Marathon Digital&#39;s energized hash rate increased 78% to 31.5 EH/s in the second quarter. The company said it produced 2,058 bitcoin during the quarter — down 30% year-over-year.</p><p>Marathon Digital had $1.4 billion in unrestricted cash, cash equivalents and bitcoin as of June 30. The company said it had 18,488 Bitcoin on its balance sheet at the quarter’s end and subsequently purchased an additional $100 million worth of Bitcoin, bringing total holdings up to more than 20,000 Bitcoin.</p><p>“During the second quarter of 2024, our BTC production was impacted by unexpected equipment failures and transmission line maintenance at the Ellendale site operated by Applied Digital, increased global hash rate, and the April halving event,” said <strong>Fred Thiel</strong>, chairman and CEO of Marathon Digital.</p><p>Thiel says transformer issues at the Ellendale site were “mitigated and remediated” post-quarter end, and the hash rate recovery effort is complete.</p><p>“We reached an all-time high installed hash rate of 31.5 exahash in the second quarter and continue to target 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025,” he added.</p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Marathon Revenue Miss, Hash Rate Up 78%, More Than 20K Bitcoin On Balance Sheet</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarathon Revenue Miss, Hash Rate Up 78%, More Than 20K Bitcoin On Balance Sheet\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2024-08-02 06:58</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Marathon Digital reported second-quarter revenue of $145.14 million, missing the consensus estimate of $157.84 million.</p><p>Marathon Digital shares were up 0.28% in after-hours trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2a01fb36880dff7b9015229ae46f4cfd\" tg-width=\"809\" tg-height=\"847\"/></p><p>The Bitcoin mining company reported an adjusted loss of 19 cents per share, missing analyst estimates for a loss of 14 cents per share.</p><p>Total revenue was up 78% year-over-year. Marathon Digital&#39;s energized hash rate increased 78% to 31.5 EH/s in the second quarter. The company said it produced 2,058 bitcoin during the quarter — down 30% year-over-year.</p><p>Marathon Digital had $1.4 billion in unrestricted cash, cash equivalents and bitcoin as of June 30. The company said it had 18,488 Bitcoin on its balance sheet at the quarter’s end and subsequently purchased an additional $100 million worth of Bitcoin, bringing total holdings up to more than 20,000 Bitcoin.</p><p>“During the second quarter of 2024, our BTC production was impacted by unexpected equipment failures and transmission line maintenance at the Ellendale site operated by Applied Digital, increased global hash rate, and the April halving event,” said <strong>Fred Thiel</strong>, chairman and CEO of Marathon Digital.</p><p>Thiel says transformer issues at the Ellendale site were “mitigated and remediated” post-quarter end, and the hash rate recovery effort is complete.</p><p>“We reached an all-time high installed hash rate of 31.5 exahash in the second quarter and continue to target 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025,” he added.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MARA":"Marathon Digital Holdings Inc"},"source_url":"https://www.benzinga.com/markets/cryptocurrency/24/08/40118334/marathon-digital-q2-earnings-revenue-miss-hash-rate-up-78-more-than-20k-bitcoin-on-balance","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2456049460","content_text":"Marathon Digital reported second-quarter revenue of $145.14 million, missing the consensus estimate of $157.84 million.Marathon Digital shares were up 0.28% in after-hours trading.The Bitcoin mining company reported an adjusted loss of 19 cents per share, missing analyst estimates for a loss of 14 cents per share.Total revenue was up 78% year-over-year. Marathon Digital's energized hash rate increased 78% to 31.5 EH/s in the second quarter. The company said it produced 2,058 bitcoin during the quarter — down 30% year-over-year.Marathon Digital had $1.4 billion in unrestricted cash, cash equivalents and bitcoin as of June 30. The company said it had 18,488 Bitcoin on its balance sheet at the quarter’s end and subsequently purchased an additional $100 million worth of Bitcoin, bringing total holdings up to more than 20,000 Bitcoin.“During the second quarter of 2024, our BTC production was impacted by unexpected equipment failures and transmission line maintenance at the Ellendale site operated by Applied Digital, increased global hash rate, and the April halving event,” said Fred Thiel, chairman and CEO of Marathon Digital.Thiel says transformer issues at the Ellendale site were “mitigated and remediated” post-quarter end, and the hash rate recovery effort is complete.“We reached an all-time high installed hash rate of 31.5 exahash in the second quarter and continue to target 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025,” he added.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":8,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2456049460"}