Bitcoin Miner Marathon Digital Reports 314% Increase In Bitcoin Production, But Misses Estimates
Portfolio Pulse from Adam Eckert
Marathon Digital Holdings Inc reported Q2 revenue of $81.8 million, missing the consensus estimate of $92.65 million. The company also reported a quarterly loss of 13 cents per share, missing analyst estimates for a loss of 4 cents per share. Despite a 314% increase in Bitcoin production, the company's shares were trading lower by 3.63%.
August 08, 2023 | 9:00 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Marathon Digital's Q2 earnings missed estimates, leading to a drop in share price.
Marathon Digital's Q2 earnings missed estimates, which is likely to negatively impact investor sentiment and lead to a decrease in the company's share price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Marathon Digital reported a 314% increase in Bitcoin production, which more than offset 14% lower average Bitcoin prices during the quarter.
While Marathon Digital's increased Bitcoin production is a positive sign, the impact on Bitcoin's price is uncertain due to the broader market factors influencing the cryptocurrency's value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60