Marathon Digital Holdings, Inc. (MARA) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -4.35%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced a loss of $0.06, delivering a surprise of -400%. Over the last four quarters, the c ...

Financial Performance - Revenues increased 78% to $145.1 million in Q2 2024 from $81.8 million in Q2 2023[1] - Net loss increased to $199.7 million, or $0.72 loss per diluted share, in Q2 2024 from a net loss of $9.0 million, or $0.07 loss per diluted share, in Q2 2023[6] - Adjusted EBITDA decreased to a loss of $85.1 million in Q2 2024 from a gain of $35.8 million in Q2 2023[6] - Total revenues for Q2 2024 reached $145.1 million, a significant increase of 77.6% compared to $81.8 million in Q2 2023[12] - The total cost of revenues for Q2 2024 was $181.7 million, up from $92.5 million in Q2 2023, reflecting a 96.5% increase[12] - Net loss for Q2 2024 was $199.7 million, compared to a net loss of $9.0 million in Q2 2023[12] - Total margin for Q2 2024 was negative $36.6 million, compared to negative $10.7 million in Q2 2023[12] - The company reported a total margin excluding depreciation and amortization of $50.6 million for Q2 2024, compared to $26.5 million in Q2 2023[12] - Operating income (loss) for Q2 2024 was negative $232.4 million, compared to negative $6.1 million in Q2 2023[12] - Adjusted EBITDA was $(85,140) million, while the previous period reported $35,807 million[13] Production and Mining Metrics - BTC production decreased by 30% to 2,058 BTC in Q2 2024 from 2,926 BTC in Q2 2023[4] - Average BTC production per day was 22.9 BTC in Q2 2024, down from 32.2 BTC in Q2 2023[12] - Installed Hash Rate at the end of the period was 31.5 exahashes per second, up from 21.8 exahashes per second[13] - Average Operational Hash Rate was 24.0 exahashes per second, compared to 12.1 exahashes per second in the previous period[13] - Share of available miner rewards increased to 3.7% from 3.3%[13] - Number of blocks won increased to 457 from 414 in the previous period[13] - Transaction fees as a percentage of total increased to 10.5% from 8.2%[13] Asset Management - The company ended the quarter with 18,488 BTC on the balance sheet and subsequently purchased an additional $100 million worth of BTC, exceeding 20,000 BTC in total holdings[4] - The fair market value loss of digital assets was $148.0 million in Q2 2024, compared to $25.2 million in Q2 2023[8] Strategic Initiatives - The company organized into three strategic business teams: Utility Scale Mining, Energy Harvesting, and Technology[3] - The company successfully acquired the Garden City data center in Texas and signed a partnership with the government of Kenya[1] Hash Rate and Cost Metrics - Energized hash rate rose 78% to 31.5 EH/s in Q2 2024 compared to 17.7 EH/s in Q2 2023[1] - Cost per Petahash per day decreased to $41.0 from $50.4 in the previous period[13] - The company defines Energized Hash Rate as the total hash rate that could theoretically be generated if all mining rigs are operational[14] - Adjusted EBITDA and total margin excluding depreciation and amortization are used to evaluate business performance and inform operating decision-making[15]

- Revenues Increase 78% to $145.1 Million - Fair Market Value Loss of $148.0 Million, Resulting in Net Loss of $199.7 Million, or $0.72 Loss per Diluted Share - Adjusted EBITDA Decreases to a Loss of $85.1 Million Year-Over-Year Comparison Prior Quarter Comparison Metric(1) Q2 2024 Q2 2023 % Δ Q2 2024 Q1 2024 % Δ Fort Lauderdale, FL, Aug. 01, 2024 (GLOBE NEWSWIRE) -- MARA (NASDAQ:MARA) ("MARA" or the "Company"), a global leader in leveraging digital asset compute to support the energy transformation, report ...

- Revenues Increase 78% to $145.1 Million - Fair Market Value Loss of $148.0 Million, Resulting in Net Loss of $199.7 Million, or $0.72 Loss per Diluted Share - Adjusted EBITDA Decreases to a Loss of $85.1 Million Year-Over-Year Comparison Prior Quarter Comparison Metric(1) Q2 2024 Q2 2023 % Δ Q2 2024 Q1 2024 % Δ Fort Lauderdale, FL, Aug. 01, 2024 (GLOBE NEWSWIRE) -- MARA (NASDAQ:MARA) ("MARA" or the "Company"), a global leader in leveraging digital asset compute to support the energy transformation, report ...

Shares of the company have appreciated by 6.71% over the course of the past month, outperforming the Business Services sector's loss of 1.69% and the S&P 500's loss of 0.26%. For the full year, the Zacks Consensus Estimates are projecting earnings of $0.12 per share and revenue of $687.17 million, which would represent changes of -29.41% and +77.33%, respectively, from the prior year. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performa ...

The earnings report, which is expected to be released on August 1, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. Zacks Consensus Estimate Revenues are expected to be $161.04 million, up 97% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.95% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collecti ...

"Adopting a full HODL strategy reflects our confidence in the long-term value of bitcoin," said Fred Thiel, MARA's chairman and CEO. "We believe bitcoin is the world's best treasury reserve asset and support the idea of sovereign wealth funds holding it. We encourage governments and corporations to all hold bitcoin as a reserve asset." Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking s ...

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical fact, included in this press release are forward-looking statements. The words "may," "will," "could," "anticipate," "expect," "intend," "believe," "continue," "target" and similar expressions or variations or negatives of these words are intended to identify forward-looking statements, although not all forward-looking statements contain these identify ...

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Earnings Webcast and Conference Call Set for Thursday, August 1, 2024 at 5:00 p.m. ET To register to participate in the conference call or to listen to the live audio webcast, please use this link. The webcast will also be broadcast live and available for replay via the investor relations section of the Company's website. Earnings Webcast and Conference Call Details Date: Thursday, August 1, 2024 Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time) Registration link: LINK About MARA For more information, v ...