secwatch.observer — SEC 8-K summary
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Issuer:     MARA Holdings, Inc. (MARA)
CIK:        0001507605
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001493152-23-040005
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1507605/000149315223040005/0001493152-23-040005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1507605/000149315223040005/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-040005

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