Marathon Digital (MARA), one of the largest publicly traded bitcoin miners in North America, reported fourth quarter revenue of $60.3 million, an increase of 17% from the previous quarter but slightly below the consensus analyst estimate of $60.9 million, according to FactSet veri.
- Adjusted earnings came in at $0.36 per share, just ahead of the consensus estimate of $0.348.
- The miner produced 1,098 self-mined bitcoins in the fourth quarter, down about 12% from 1,252 bitcoins generated in the previous quarter but up about 600% from the year ago quarter, according to a statement.
- “While maintenance to the power generating station in Hardin, MT materially impacted our bitcoin production in November, we still produced 1,098 bitcoin in the fourth quarter and ended the year with our most productive month to date, producing 484.5 bitcoin in December alone,” said Marathon’s CEO Fred Thiel in a statement.
- Marathon held about 8,956 bitcoin as of Feb. 28, which at a market price of $43,193 was worth roughly $386.8 million, the company said.
- “We believe Marathon remains well positioned to generate approximately 23.3 EH/s and for our mining operations to be 100% carbon neutral by early 2023,” Thiel added.
- The miner also generated $150.5 million in revenue in 2021, rising more than 3,000% from $4.4 million in 2020.
- Shares of Marathon were up 0.4% in post-market trading Tuesday after rising nearly 3% during the day’s trading, while the price of bitcoin rose about 2% on Tuesday.
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