Marathon Digital revenues fall from analysts' estimates

Marathon Digital's revenues fall from analysts' estimates

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Marathon Digital's revenue fall 45% from analysts' estimates, which came in at US$12.7 million.

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Marathon Digital mining cryptocurrencies in the US with a focus on building the blockchain ecosystem and digital assets.

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The company reported a net loss of US$75.4mln during the quarter, compared to a net loss of US$22.2mln, a year ago.

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Marathon Digital produced 616 bitcoins in the third quarter .

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51% reduction in production from 1,252 bitcoins in the third quarter of 2021.

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Marathon Digital is targeting around 9.0 EH/s by the end of the year.

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Company aims to achieve 23 EH/s target by mid 2023

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Marathon Digital's revenues fall from analysts' estimates

Marathon Digital's revenue fall 45% from analysts' estimates, which came in at US$12.7 million.

Revenue Fall

Marathon Digital mining cryptocurrencies in the US with a focus on building the blockchain ecosystem and digital assets.

Company Business

The company reported a net loss of US$75.4mln during the quarter, compared to a net loss of US$22.2mln, a year ago.

Reported Net Lose

Marathon Digital produced 616 bitcoins in the third quarter .

51% reduction in production from 1,252 bitcoins in the third quarter of 2021.

Production Down

Marathon Digital is targeting around 9.0 EH/s by the end of the year.

Production Target end of the year.

Company aims to achieve 23 EH/s target by mid 2023

Marathon Digital shares fell 5% to US$9.61 after earnings call and continued decline.

Stock Price