Bitcoin

Read

Marathon’s shares surged by more than 20%, fueled by investor optimism ahead of the forthcoming earnings report. 
Anticipation surrounding <a href="https://crypto.news/tag/marathon/" target="_blank" rel="noreferrer noopener">Marathon</a>‘s financial performance, particularly in the wake of Bitcoin’s recent price surge, has fueled significant investor interest. The bullish sentiment was evident as Marathon’s stock (MARA) on Nasdaq surged by 21% to $29 as of Feb. 27, according to data from Google Finance. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="882" height="609" src="https://crypto.news/app/uploads/2024/02/bpiusnhads.png" alt="Bitcoin miner Marathon's stock jumps 20% ahead of Q4 earnings report - 26" class="wp-image-14252848">
 <figcaption class="wp-element-caption">
 MARA stock price in USD | Source: Google Finance
 </figcaption>
</figure> 
Analysts from Zacks Investment Research are <a href="https://www.zacks.com/stock/news/2231220/marathon-digital-mara-to-post-q4-earnings-whats-in-store" target="_blank" rel="noopener">forecasting</a> Q4 revenues to reach $138.2 million, reflecting a staggering increase of over 100% compared to the same period last year, with a remarkable 385% year-over-year growth. 
<blockquote class="wp-block-quote"> 
 “Marathon Digital’s performance in the quarter is expected to have been positively impacted by an increase in bitcoin production and higher Bitcoin prices on a year-over-year basis.” 
 Zacks Investment Research 
</blockquote> 
 You might also like: <a href="https://crypto.news/bitcoin-miner-marathon-shares-up-23-despite-42-production-plunge/"> Bitcoin miner Marathon shares up 23% despite 42% production plunge </a> 
According to Seeking Alpha analyst Thomas Potter, the upcoming earnings call <a href="https://seekingalpha.com/article/4671360-marathon-digital-q4-earnings-preview-surging-opportunity" target="_blank" rel="noreferrer noopener">holds</a> significant importance as it will provide insights into whether the company can maintain or enhance its financial position. The consensus estimate for MARA’s bottom line stands at $0.05 per share, according to Zacks. 
Furthermore, the forthcoming report is anticipated to underscore Marathon’s readiness for the upcoming halving event, which will reduce Bitcoin mining rewards by half, from 6.25 BTC to 3.125 BTC. 
Bitcoin halving occurs approximately every four years, specifically every 210,000 blocks. This mechanism is intrinsic to Bitcoin’s design to combat inflation and preserve its value over time. During the halving, the reward for mining new blocks is cut in half, reducing the rate at which new Bitcoins are created and, consequently, the total supply of BTC in circulation. 
 Read more: <a href="https://crypto.news/marathon-digital-pays-hut-8-13-5m-to-run-two-bitcoin-mining-sites/"> Marathon Digital pays Hut 8 $13.5m to run two Bitcoin mining sites </a>

Bitcoin miner Marathon’s stock jumps 20% ahead of Q4 earnings report

crypto.news

Other articles published on Feb 27, 2024

Football Legend Lionel Messi to Unveil the Highly Anticipated “Join the PLANET” RWA on March 1 (2...

COTI Price Prediction: COTI Skyrockets 330% In A Month As This AI Blockchain Presale Charges Towa...

How Protocols Are Interconnected on the Blockchain

Anatoly Yakovenko Tweets Playfully About SOL, ADA Seen Among Dead Coins – Meme Moguls (MGLS) Taki...

AI-Powered Meme Coin Scotty the AI Offers High APY in Presale – Michael Wruble Video Reviews

Cardano (ADA) & Uniswap (UNI) Investors Buy-in to Lending Platform Kelexo (KLXO) Phenomenon as 20...

Join our free newsletter for daily crypto updates!