Marathon Digital Holdings has released its financial
results for the fourth quarter and fiscal year 2023, highlighting impressive
performance in revenue, net income, and BTC production.
In the fourth quarter of 2023, Marathon reported an
increase of 452% in revenue compared to the same period in 2022. The company
sold 56% of the Bitcoin it produced during the quarter to fund operating costs,
further strengthening its financial position.
Similarly, in fiscal year 2023, Marathon’s revenue
soared 229% to an all-time high of $388 million. The company’s net income
experienced a remarkable turnaround, surging to $261.2 million, or $1.06 per
diluted share, significantly improving from the previous year’s loss. Adjusted
EBITDA also showed impressive growth, reaching $419.9 million.
Expect ongoing updates as this story evolves.
Marathon Digital Holdings has released its financial
results for the fourth quarter and fiscal year 2023, highlighting impressive
performance in revenue, net income, and BTC production.
In the fourth quarter of 2023, Marathon reported an
increase of 452% in revenue compared to the same period in 2022. The company
sold 56% of the Bitcoin it produced during the quarter to fund operating costs,
further strengthening its financial position.
Similarly, in fiscal year 2023, Marathon’s revenue
soared 229% to an all-time high of $388 million. The company’s net income
experienced a remarkable turnaround, surging to $261.2 million, or $1.06 per
diluted share, significantly improving from the previous year’s loss. Adjusted
EBITDA also showed impressive growth, reaching $419.9 million.
Expect ongoing updates as this story evolves.
