MARA Holdings Inc Stock Price, News & Analysis

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.

Marathon Digital Holdings (NASDAQ:MARA) reported financial results for Q2 2022, showing a net loss of $191.6 million, up from $108.9 million in Q2 2021. Bitcoin production increased 8% year-over-year, totaling 707 BTC, but revenue fell to $24.9 million due to a 56% decline in Bitcoin prices. The firm anticipates improved production as miners are energized in Texas, with 40,000 already installed. They aim for 23.3 EH/s of compute power and have increased credit facilities by $100 million, bolstering liquidity. As of July 31, 2022, total Bitcoin holdings rose to 10,127 BTC worth approximately $236.3 million.

Compute North announces the energization of its fifth TIER 0™ data center in McCamey, Texas, co-located at a wind asset. This facility, scaling up to 280MW, marks a first in behind-the-meter wind projects, with Marathon Digital Holdings, Inc. (NASDAQ:MARA) as its exclusive customer. The facility guarantees power off-take, optimizing wind production by mitigating curtailment during peak generation. 40,000 miners are set to come online, contributing to a hash rate of 3.9 exahashes per second. The collaboration aims to enhance local energy efficiency and create jobs.

Marathon Digital Holdings (MARA) has expanded its credit facilities with Silvergate Bank, refinancing a $100 million revolving line of credit and securing an additional $100 million term loan, effective July 28, 2022. The term loan allows for an initial draw of $50 million, with another $50 million available within 270 days, carrying a variable interest rate starting at 7.25%. These facilities, maturing in July 2024, are secured by Bitcoin and provide Marathon with enhanced financial flexibility for future growth.