MARA Holdings Inc Stock Price, News & Analysis

Marathon Digital Holdings has appointed Hugh Gallagher as Chief Financial Officer (CFO), effective March 31, 2022. Sim Salzman, the current CFO, will transition to Chief Accounting Officer on the same date. Gallagher brings over 30 years of financial experience, having served in various senior roles at Global LPG and AmeriGas Propane. CEO Fred Thiel expressed confidence in Gallagher's abilities to enhance Marathon's growth and profitability in the competitive Bitcoin mining sector.

Marathon Digital Holdings (MARA) reported a 729% year-over-year increase in Bitcoin production for February 2022, generating 360.3 BTC. Total Bitcoin holdings rose to 8,956 BTC, valued at approximately $386.8 million. The company achieved an 8% month-over-month hash rate increase after deploying 2,800 miners, boosting total active miners to 35,510. Marathon aims for a 100% carbon-neutral operation by year-end and anticipates further acceleration of miner deployments throughout 2022.

Marathon Digital Holdings (NASDAQ:MARA) reported impressive financial results for fiscal year 2021, with revenues soaring 3,353% year-over-year to $150.5 million. The fourth quarter alone saw revenues rise 2,180% to $60.3 million. The company produced 3,197 self-mined bitcoin in 2021, an 846% increase. Marathon achieved a non-GAAP net income of $168.7 million, or $1.70 per diluted share. As of December 31, 2021, it held approximately 8,133 bitcoin valued at around $375.8 million. The company anticipates further growth in 2022 with increased operational efficiency.

Marathon Digital Holdings (NASDAQ: MARA) has appointed Raymond Walintukan as vice president of mining operations. Walintukan will oversee the company’s mining strategy and operations, reporting to COO Jim Crawford. With extensive experience in the crypto mining sector, he previously served as COO of Hash Hive and BITMAIN North America. Marathon aims to increase its mining capacity from 3.6 EH/s to 23.3 EH/s by early next year, with Walintukan expected to enhance operational efficiency. CEO Fred Thiel emphasized the need for technical leadership to remain competitive in the evolving Bitcoin mining industry.

Marathon Digital Holdings reported a remarkable 816% year-over-year increase in bitcoin production for January 2022, yielding 462.1 BTC, compared to 50.4 BTC in January 2021. The company's total bitcoin holdings now stand at 8,595 BTC, valued at approximately $330.6 million. Cash reserves were reported at $189.1 million, bringing total liquidity to $519.7 million. Additionally, Marathon received around 21,000 ASIC miners to boost its operations, with significant expansions planned to achieve a hash rate of 23.3 EH/s by early 2023.

Marathon Digital Holdings (MARA) has appointed Ashu Swami as the new Chief Technology Officer. Swami, previously with Core Scientific, brings extensive experience in chip design, crypto, and DeFi. He aims to enhance Marathon's technical operations and security measures. CEO Fred Thiel emphasized the importance of technical leadership for innovation in the bitcoin mining sector. Swami expressed enthusiasm for continuing Marathon's success and innovation in the industry. This leadership change aligns with the company's growth strategy.

Marathon Digital Holdings (MARA) reported an impressive 846% increase in annual bitcoin production for 2021, totaling 3,197 BTC. The December production alone reached a record 484.5 BTC, contributing to a quarterly total of 1,098 BTC. The company's bitcoin holdings surged to 8,133 BTC, valued at approximately $375.8 million. Marathon plans to expand its mining fleet to 199,000 miners by early 2023, significantly increasing its hash rate to 23.3 EH/s. The company ended 2021 with about $644.3 million in total liquidity.

Marathon Digital Holdings (NASDAQ: MARA) announced a significant expansion of its mining operations with a contract to purchase 140 TH/s ANTMINER S19 XP units from BITMAIN. By early 2023, the company expects to operate approximately 199,000 bitcoin miners generating around 23.3 EH/s. This marks a 600% increase from its previous hash rate projections. Marathon aims to position itself as one of the largest bitcoin miners globally, leveraging renewable energy sources to support its operations.

Marathon Digital Holdings (NASDAQ: MARA) announced a donation to the Summer of Bitcoin 2022 internship program, aiming to support university students in Bitcoin and open-source development. This contribution is intended to fund student projects that enhance the Bitcoin network. CEO Fred Thiel emphasized the importance of fostering new developers for the Bitcoin ecosystem. Adi Shankara, director of Summer of Bitcoin, expressed gratitude for Marathon's support, highlighting its crucial role in furthering the initiative's mission.