The company looks like a decent buy on weakness just now. In his analysis, Dede waxed bullish about the recent recovery of a Marathon mining site, which experienced a shutdown but is now back in operation. Given this, he's expecting solid growth in the company's May performance when the company reports its monthly figures for that period. Where Bitcoin goes... Dede's price target reduction was due to the fading of this year's great crypto market catalyst, the launch of spot Bitcoin exchange-traded funds (ET ...

Financial Data and Key Metrics Changes - The first quarter of 2024 saw a record revenue increase of 223% to $165 million from $51 million in Q1 2023 [23] - Net income rose to $337 million or $1.26 per diluted share, a 184% increase from $119 million or $0.72 per diluted share in the same quarter last year [51] - Adjusted EBITDA increased 266% to $529 million from $145 million in the prior year period [59] - The average price of Bitcoin mined was 126% higher compared to the previous year, contributing to a $77 million increase in revenue [52] Business Line Data and Key Metrics Changes - Bitcoin production averaged 30.9 Bitcoin per day during the quarter, up from 24.4 Bitcoin per day in the prior year [24] - Hosting revenues generated $21 million during the quarter, attributed to the transition of existing hosted customers [53] - Non-GAAP cost of revenue without depreciation improved by 16% from $53.7 per petahash per day in Q1 2023 to $45.2 per petahash per day in Q1 2024 [55] Market Data and Key Metrics Changes - The global hash rate increased by approximately 86% since Q1 2023, leading to higher costs per coin due to operational issues at third-party hosted sites [26] - Total cost of revenues rose to $168 million compared to $151 million last year, with depreciation and amortization increasing to $78 million [27] Company Strategy and Development Direction - The company transitioned from an asset-light Bitcoin miner to owning and operating its own mining sites, effectively doubling its portfolio to 1.1 gigawatts of capacity [41] - The launch of new products and services, including Slipstream, aims to diversify revenue streams and enhance operational efficiency [12][14] - The company plans to reorganize into three business units: utility-scale mining, technological innovations, and energy harvesting [71] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming operational challenges and achieving record financial results despite equipment failures and weather-related issues [21][22] - The company aims to reach a target of 50 exahash by the end of 2024, with plans for continued growth and expansion into international markets [79][80] - Management highlighted the importance of diversifying revenue streams to mitigate the impact of future Bitcoin halving events [77] Other Important Information - The company was added to the S&P SmallCap 600 Index, marking a significant milestone as the first Bitcoin miner included in the index [62] - As of March 31, 2024, the company held approximately 7,320 Bitcoin with a fair value of $1.2 billion on its balance sheet [60] Q&A Session Summary Question: How is MARA positioned to stay profitable and grow compared to other mining companies post-halving? - Management indicated that by acquiring sites and integrating operations, they have lowered their cost structure by eliminating third-party hosting margins, potentially reducing costs by up to 20% [82] Question: Is MARA looking for mergers or planning to buy other miners in the short term? - Management noted challenges in acquiring miners with older fleets, as it may not be a smart investment due to the age of the equipment [83][84] Question: What is the status of the open ATM and its impact on MARA's stock price? - Management confirmed that they have not accessed the new ATM as of March 31, 2024, but raised about $200 million subsequently [110] Question: What are the plans for increasing efficiency and reducing downtime at mining facilities? - Management discussed the importance of owning and operating sites to improve uptime and efficiency, citing successful operations in UAE with 99.8% uptime [102] Question: How will the company manage power costs and improve efficiency? - Management stated that owning sites allows for significant cost reductions, estimating operational costs between $0.005 and $0.01 per kilowatt hour [127][140]

Marathon Digital Holdings, Inc. (MARA) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of $0.02. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -400%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced a loss of $0.02, delivering a surprise of -140%.Over the last four quarters, the company has no ...

Exhibit 99.1 Marathon Digital Holdings Reports First Quarter 2024 Results – Revenues Increase 223% to a Record $165.2 Million – Net Income Increases 184% to a Record $337.2 Million, or $1.26 per Diluted Share – Adjusted EBITDA Increases 266% to a Record $528.8 Million Fort Lauderdale, FL – May 9, 2024 – Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), global leader in leveraging digital asset compute to support the energy transformation, reported its financial and operational results ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the transition period from _______to______ Commission File Number: 001-36555 MARATHON DIGITAL HOLDINGS, INC. (Exact name of registrant as specified in charter) | Nevada | 01-0949984 | | -- ...

Marathon Digital Holdings, Inc. (MARA) is slated to report its first-quarter 2024 results on May 9, after the bell.The company’s earnings surprise history has not been impressive. It delivered a trailing four-quarter negative earnings surprise of 107.1% on average.Q1 ExpectationsThe Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $193.9 million, indicating a more than 100% increase from the year-ago quarter’s actual figure. The consensus mark for the bottom line is pegged at ...

Bitcoin (BTC-USD) miner Marathon Digital Holdings (NASDAQ:MARA) stock rose 5% over the weekend on optimism over cryptocurrencies.The stock was due to open at $18.46 per share this morning, its market capitalization over $4.9 billion.Bitcoin prices surged over the weekend. Early today, each coin was worth $63,500. The total value of Bitcoin is now about $1.26 trillion.Crypto Heating UpNot everyone is high on Marathon or crypto. Fintel reports almost 20% of its stock is now being held short. This includes ove ...

- Average Operational Hash Rate Increases 15% M/M to 21.1 EH/s - Increased BTC Holdings to 17,631 BTC; Total Cash and BTC of $1.6 B as of April 30, 2024 - Increased End of Year 2024 Total Installed Hash Rate Guidance to 50 EH/s, Confirmed and Fully Funded Fort Lauderdale, FL, May 03, 2024 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ: MARA) ("Marathon" or the "Company"), one of the world's largest publicly traded Bitcoin miners and a leader in supporting and securing the Bitcoin ecosystem, to ...

New 50 EH/s Target Represents Approximately 100% Growth in Hash Rate during Fiscal Year 2024 Fort Lauderdale, FL, April 25, 2024 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the world's largest publicly traded Bitcoin miners and a leader in supporting and securing the Bitcoin ecosystem, today announced that the Company is increasing its hash rate target for fiscal year 2024 from 35-37 EH/s to 50 EH/s. Marathon began 2024 with approximately 24.7 EH/s ene ...

Marathon Digital Holdings, Inc. (MARA) closed the latest trading day at $19.09, indicating a -1.8% change from the previous session's end. This change lagged the S&P 500's 0.02% gain on the day. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.1%.Shares of the company have depreciated by 4.61% over the course of the past month, outperforming the Business Services sector's loss of 5.08% and lagging the S&P 500's loss of 3.01%.The upcoming earnings release of Marathon Digital Holdings, ...