MARA Holdings Inc Stock Price, News & Analysis

Marathon Digital Holdings (NASDAQ: MARA) announced an earnings webcast and conference call scheduled for February 28, 2023, at 4:30 p.m. ET. This call aims to discuss the financial results for the fourth quarter and fiscal year of 2022, which ended on December 31, 2022. Interested parties can register for the call and access the webcast via the investor relations section of the company's website. Shareholders can also submit questions for the management team to address during the call.

Marathon Digital Holdings (NASDAQ: MARA) reported a record production of 687 BTC in January 2023, marking a 45% increase from December 2022. Their unrestricted cash surged to $133.8 million, and unrestricted Bitcoin holdings rose to 8,090 BTC by January 31. The company sold 1,500 BTC for operational costs but still saw an overall BTC holding increase to 11,418 BTC. Marathon aims to enhance its mining efficiency, targeting 23 EH/s of computing power by mid-2023. Notably, the company is also expanding operations in Abu Dhabi with a new joint venture.

Marathon Digital Holdings announced record bitcoin (BTC) production for December 2022, achieving 475 BTC and a total of 4,144 BTC for the fiscal year, marking a 30% increase from 2021. The company significantly improved its financial position with $103.7 million in cash and 7,815 BTC holdings worth $129.3 million as of December 31. Marathon doubled its hash rate to 7.0 EH/s and is on track to triple its production capacity to 23 EH/s by mid-2023. Efforts include enhancing miner efficiency and sustainability through new technologies.

Marathon Digital Holdings (NASDAQ: MARA) reported a production of 472 BTC in November 2022, totaling 1,087 BTC for the quarter to date. The company's unrestricted cash increased to $61.7 million, alongside 4,200 BTC in unrestricted bitcoin holdings. Marathon initiated a pilot immersion deployment, installing approximately 14,000 S19 XPs in Texas. The company reduced its revolver borrowings from $50 million to $30 million and increased its BTC production year-to-date by 35%.

Marathon Digital Holdings (NASDAQ:MARA) reported a significant net loss of $(75.4) million or $(0.65) per share for Q3 2022, compared to $(22.2) million or $(0.22) per share from the previous year. Challenges included lower bitcoin production of 616 BTC, down 51% year-over-year, and various unfavorable financial impacts totaling $(168.8) million. However, production improved sequentially, with 3,197 BTC produced year-to-date, a 27% increase over the prior year. The company aims to scale operations to reach 9.0 EH/s by year-end and 23 EH/s by mid-2023.

Marathon Digital Holdings (NASDAQ:MARA) announced record-breaking bitcoin production results for October 2022, with a total of 615 BTC produced. This surge was attributed to the energization of approximately 32,000 miners, boosting the company's hash rate by 84% to about 7.0 EH/s. As of November 1, the firm holds 11,285 BTC valued at approximately $231.3 million. With the ongoing rollout of S19 XPs and new facilities, Marathon aims to reach a hash rate of 23 EH/s in 2023.

Marathon Digital Holdings (NASDAQ: MARA) will host a webcast and conference call on November 8, 2022, at 4:30 p.m. ET to discuss its Q3 2022 financial results. Investors can register to participate via a link provided in the announcement. The financial results will be released prior to the call and will be available on the company’s investor relations website. Additionally, verified shareholders may submit questions for management ahead of the earnings call, with the Q&A platform open from October 31 to November 7.

Marathon Digital Holdings (MARA) reported significant progress in Bitcoin production, producing 360 BTC in September and a total of 616 BTC in Q3 2022. The company's total Bitcoin holdings rose to 10,670 BTC valued at approximately $207.3 million. Following the transition from its Montana facility, Marathon has accelerated its operations at the King Mountain Wind Farm. Despite Compute North's Chapter 11 bankruptcy, Marathon foresees no major operational disruptions. The company has also energized an additional 19,000 miners, enhancing its mining capacity to approximately 5.7 EH/s.

Marathon Digital Holdings (NASDAQ:MARA) reported a significant boost in Bitcoin production for August 2022. The company energized approximately 25,000 miners, achieving a hash rate of 3.2 EH/s and producing 184 BTC in the month. Year-to-date production stands at 2,222 BTC, reflecting a 26% increase from the prior year. Looking ahead, Marathon anticipates bringing online an additional 65,000 miners (6.9 EH/s) within the next 90 days, aiming for a capacity of 23 EH/s by mid-2023. The total Bitcoin holdings reached 10,311 BTC valued at $206.7 million.