This was a very bad quarter for $Marathon Digital Holdings Inc(MARA)$ . Even with the surge in bitcoin prices, bitcoin mining still lost money. The quarterly profit was from bitcoin price gains. The mining business should be making lots of money at current prices.
Mining economics are great so hash rates will increase and that will make mining economics worse. Bitcoin mining is a very tough long term business model and if Marathon can’t even make money in a quarter like last one, that’s bad.
If you want to invest in a crypto that's going to make you a lot of money in the long run, Mara is not the one to watch!
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