Marathon Digital Q4 Earnings Highlights: Revenue Beat, EPS Miss, Bitcoin Production Up 172% YoY
Portfolio Pulse from Chris Katje
Marathon Digital Holdings (NASDAQ:MARA) reported Q4 financial results with a revenue of $156.8 million, up 452% YoY, beating consensus estimates but missed EPS expectations with a loss of 2 cents per share. The company produced 4,242 Bitcoin in Q4, up 172% YoY, and ended the year with 15,126 Bitcoin. Marathon plans to increase its hash rate to 35-37 EH/s in 2024 and to 50 EH/s by 2025. Additionally, Marathon introduced a new multichain layer-two network on Bitcoin, Anduro, aimed at encouraging Bitcoin development and adoption.
February 28, 2024 | 9:55 pm
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Marathon Digital reported strong Q4 revenue growth and significant Bitcoin production increase, but missed EPS estimates. Plans for hash rate growth and introduced Anduro network.
The mixed financial results, with a significant revenue beat but an EPS miss, could lead to short-term negative sentiment among investors. The introduction of the Anduro network and plans for hash rate growth highlight the company's growth prospects, but the immediate after-hours stock price reaction suggests a short-term negative impact.
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