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

Bitcoins Production Down 

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. 

Production Target mid 2023 

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