BRAZIL - 2022/07/04: In this photo illustration, the Marathon Digital Holdings logo seen displayed ... [+] on a smartphone screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesIn the last year, Bitcoin’s price has soared 150% to $70,282. That increase is slightly below the 158% appreciation of Las Vegas-based crypto miner Marathon Digital’s stock.It’s not all good news for Marathon Digital. The company’s stock took a tumble on Februa ...

Notable absentees of the ongoing crypto market rally have, for the most part, been major Bitcoin (BTC) mining firms. This, perhaps, isn’t surprising given that the companies not only suffered immense damage during the ‘crypto winter’ but their prospects for the Bitcoin halving might not be as stellar as might appear at first glance.Indeed, as the mining rewards are set to become smaller, Bitcoin prices will have to increase significantly for the miners to remain profitable and the world’s premier cryptocurr ...

Marathon Digital Holdings (NASDAQ: MARA) is the world’s largest publicly traded Bitcoin (BTC) mining company. Institutional investors have gradually increased their positions in Marathon despite the block subsidy halving expected in April.In particular, institutional investors own 38.9% of Marathon’s outstanding shares, holding 104,212,740 out of the 268 million. Finbold gathered this data from Nasdaq, which also shows the top five institutional shareholders of the Bitcoin mining company.First, Vanguard hol ...

Marathon Digital (NASDAQ:MARA), a leading Bitcoin (BTC-USD) miner, has continued to struggle of late. Over the past month, MARA stock struggled but there’s hope ahead.However, zooming out, this digital asset miner soared 279% last year and rose 101% over the past six months, reflecting its mining prowess. So, analyzing this stock is more about time horizon than anything else. The company mined a remarkable 4,242 Bitcoins in Q4 alone, surpassing prior achievements and posting $157 million in Q4 revenues, exc ...

With the Bitcoin (BTC-USD) halving event quickly approaching, crypto mining stocks are in full focus. This comes at an excellent time for Riot Platforms (NASDAQ:RIOT), a Bitcoin infrastructure innovator that has spent the past month trending downward. Other companies in the space, such as Marathon Digital Holdings (NASDAQ:MARA), have struggled recently as well. But now, as the year’s biggest crypto event draws near, bullish sentiment toward RIOT stock is shifting. And one investment bank is highly optimisti ...

Marathon Digital Holdings (NASDAQ:MARA) stock represents a company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets in United States.The company’s focus on specifically mining Bitcoin (BTC-USD) has placed it on the map of many crypto enthusiasts and investors. Shares have increased more than 170% over the past twelve months. However, after having dipped 34% over the past month, a significant dip in share price, MARA stock continues to be a buy. Below ar ...

Marathon Digital Holdings, Inc. (MARA) ended the recent trading session at $19.41, demonstrating a +0.47% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.63%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.82%.The company's stock has dropped by 28.29% in the past month, falling short of the Business Services sector's gain of 0.67% and the S&P 500's gain of 1.76%.The upcoming earnings release of Marathon Digital Holdings, Inc ...

All Cash Acquisition To Increase Marathon's Bitcoin Mining Portfolio to 1.1 Gigawatts, 54% of which Will Reside on Sites Directly Owned and Operated by the Company Fort Lauderdale, FL, March 15, 2024 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the world's largest publicly traded Bitcoin miners and a leader in supporting and securing the Bitcoin ecosystem, has entered into a definitive purchase agreement to acquire Applied Digital Corporation's ("Applie ...

For those who haven’t been living under a rock, Bitcoin (BTC-USD) has recently hit new all-time highs, trading above the key $70,000 level. Accordingly, one might expect Bitcoin miners like Marathon Digital (NASDAQ:MARA) to follow suit, given their exposure to rising prices. Unfortunately, though, MARA stock is down nearly 10% today. That brings its losses over the past month to almost 40%. The question has to be asked: What gives? After all, the Bitcoin hoard on Marathon’s balance sheet and its ongoing BTC ...

Financial Data and Key Metrics Changes - The company reported a net income attributable to common stockholders of approximately $152 million or $0.62 per diluted share in Q4 2023, compared to a net loss of approximately $392 million or $3.13 per share in the prior year quarter [8] - For the full year, net income was $261 million or $1.06 per diluted share, compared to a net loss of $694 million or $6.12 per share in the prior year [8] - Revenues for the full year reached approximately $388 million, a significant increase from $118 million in the prior year, driven by a 210% increase in Bitcoin production and a 2% increase in the average price of Bitcoin [9] - Adjusted EBITDA improved to $260 million in Q4 2023, compared to a loss of $374 million in the prior year period, and for the full year, adjusted EBITDA improved to $420 million from a loss of $543 million in 2022 [31] Business Line Data and Key Metrics Changes - The company produced a record amount of Bitcoin in 2023, increasing production by 210% year-over-year from 4,144 Bitcoin in 2022 to 12,852 Bitcoin in 2023 [6] - In Q4 2023, the company produced 4,242 Bitcoin, more than the total production of 2022 and more than three of its top competitors combined [79] Market Data and Key Metrics Changes - The total Bitcoin network's hash rate doubled from 253 exahash to 509 exahash in 2023, effectively reducing the reward for mining a block by half [6] - The company increased its hash rate by 253% last year, growing from 7 exahash to 24.7 exahash, surpassing its target of 23 exahash [24] Company Strategy and Development Direction - The company aims to optimize costs to mine and focus on sustainable energy sources, with plans for both organic and inorganic growth domestically and internationally [16] - The company is exploring projects that involve using heat from mining systems for industrial processes, which could provide additional revenue streams [52] - The company has a goal to grow its operational hash rate to approximately 35 exahash to 37 exahash in 2024 and to 50 exahash by the end of 2025 [89] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate potential market fluctuations, emphasizing a strong balance sheet with $1 billion in cash and Bitcoin [96] - The company believes that the upcoming Bitcoin halving will provide opportunities to gain market share as inefficient miners exit the market [55] Other Important Information - The company has increased its Bitcoin holdings by 24% from 12,232 Bitcoin to 15,126 Bitcoin in 2023 [10] - The company sold 2,365 Bitcoin during Q4 2023, realizing cash proceeds of $83 million, which were used to fund operating expenses [85] Q&A Session Summary Question: How does the company address concerns about handling market fluctuations? - Management highlighted their strong balance sheet and strategies to build resiliency, including diversifying operations and investing in technology [96] Question: Why did the company use equity to purchase Bitcoin after stating it would only use equity for growth? - Management clarified that they have been opportunistic in their approach to utilize cash for strategic investments when market conditions allow [42] Question: What is the plan post-halving to ensure revenue stability? - Management indicated that they are focused on growing their hash rate and optimizing existing operations to maintain profitability [64] Question: How does the company plan to compete with competitors based on hashing power metrics? - Management acknowledged the need to improve efficiency and operational control, especially with the recent acquisitions of data centers [73]