Marathon Digital Q3 net income $64.1M; revenue up 670% to $97.8M; bitcoin production 3,490 BTC (+467%)

MARA Holdings, Inc.

2023-Q3 EPS reported $0.21 revenue$230,740,000

Net income of $64.1M ($0.35 diluted EPS) vs net loss of $72.5M in Q3 2022; adjusted EBITDA $43.7M vs -$6.1M.
Revenue $97.8M (vs $12.7M YoY) driven by 467% BTC production increase and 32% higher avg BTC price.
Energized hash rate rose 8% QoQ to 19.1 EH/s; guidance for ~26 EH/s by year-end 2023 and ~30% growth in 2024.
$417M note exchange cut long-term debt 56%; combined cash+BTC exceeded total debt for first time in two years.
Digital asset gains $31.7M (sold 66% of BTC mined) partially offset by $11.9M impairment; $82.6M gain on debt extinguishment.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MARA Holdings, Inc. reported third quarter ended September 30, 2023 results: revenue $97.8 million, net income $64.1 million, EPS $0.35 per diluted share.

Period: third quarter ended September 30, 2023
Revenue: $97.8 million
Net income: $64.1 million
EPS: $0.35 per diluted share
Result: reported results

Exact text from the filing

The Company recorded net income of $64.1 million, or $0.35 per diluted share, during the three months ended September 30, 2023, compared to a net loss of $72.5 million, or $0.62 loss per share, in the same period last year. Revenues were $97.8 million for the quarter, significantly above third quarter 2022 revenues of $12.7 million

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MARA Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-040005

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