Marathon Digital's Profit Swing Fails to Boost Stock Amid Bitcoin Surge
TL;DR Summary
Marathon Digital Holdings Inc. stock fell 6.7% in after-hours trading despite swinging to a profit in the fiscal fourth quarter, with net income of $151.8 million and revenue of $156.8 million, driven by a surge in bitcoin prices. The company plans to grow its hash rate to about 35 to 37 exahash by 2024 and to 50 exahash by the end of 2025, with orders for 22 exahash of miners already placed and options to add an additional 23 exahash.
- Marathon Digital swings to a profit, but its stock falls after earnings MarketWatch
- Marathon Digital Holdings Non-GAAP EPS of -$0.02 misses by $0.04, revenue of $156.7M beats by $11.27M (NASDAQ:MARA) Seeking Alpha
- Bitcoin Miner Marathon's Sales Beat Fails to Impress Wall Street CoinDesk
- Bitcoin Miner Marathon's Shares Outperform Peers Ahead of Possible 'Strong' Earnings Report Yahoo Finance
- Marathon Digital Tumbles On Earnings; Bitcoin Breaks Above $60000 To November 2021 Levels Investor's Business Daily
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