Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/marathon-digitals-record-revenue-and-share-price-dynamics/" data-wpel-link="internal">Marathon Digital’s Record Revenue and Share Price Dynamics</a><br></p>
<p class="p1" style="text-align: justify">The US-based <strong><a href="https://coin-turk.com/firsatlarla-dolu-bir-dunya-bitcoin-ve-gercek-zamanli-odemeler" data-wpel-link="internal">Bitcoin</a></strong> mining giant Marathon Digital announced an increase in revenues after becoming profitable in 2023, yet the company’s shares fell following the release of the fourth-quarter revenue report. Marathon Digital published its fourth-quarter and annual earnings report on February 28th, revealing that the firm achieved a record revenue of $387.5 million in 2023, a 229% increase from the previous year.</p> 
<h2 class="p1" style="text-align: justify" id="mining-company-s-major-success">Mining Company’s Major Success</h2> 
<p class="p1" style="text-align: justify">Fourth-quarter revenue reached $156.8 million, a 452% increase, exceeding analyst estimates and significantly up from $28.4 million in the same quarter of 2022. Analysts had predicted quarterly revenue to be $148.8 million. Marathon CEO Fred Thiel commented on the matter:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“2023 was a record-breaking year for Marathon, and during this period we achieved our core objectives such as powering our fleet of mining machines purchased earlier and optimizing our performance.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">The increase in revenue was attributed to a year-over-year 172% increase in <a href="https://en.coin-turk.com/bitcoins-future-and-the-analysis-of-shiba-xrp-and-dogecoin/" data-wpel-link="internal">Bitcoin</a> production and the average Bitcoin price nearly doubling during the period. The company sold 56% of the Bitcoin it produced during the quarter to finance operating costs. Adjusted EBITDA income rose from a loss of $374 million in the fourth quarter of 2022 to $260 million in the fourth quarter of 2023.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-321095 size-full" src="https://coin-turk.com/wp-content/uploads/2024/02/marathon-veri.jpg" alt="" width="1590" height="319"></p> 
<h2 class="p1" style="text-align: justify" id="noteworthy-details-about-marathon">Noteworthy Details About Marathon</h2> 
<p class="p1" style="text-align: justify"><strong>Marathon’s</strong> Bitcoin production in 2023 increased by 210% to a record 12,852 Bitcoins. Additionally, the energized hash rate, which was only 7.0 EH/s in the previous year, increased by 253% to 24.7 EH/s in 2023. Thiel stated at the company meeting:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“2023 was a significant year for Marathon. We have never been more optimistic about the future of Marathon.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Despite the positive earnings report, the company’s shares fell 6.7% to $28.95 in after-hours trading on February 29th. However, the mining giant’s shares have seen an increase of over 300% in the last 12 months. Meanwhile, Marathon recently announced on February 28th that it had taken steps towards and developed Anduro, a Bitcoin Layer-2 platform. Mining companies continue to take significant steps towards the upcoming halving event in April.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/marathon-digitals-record-revenue-and-share-price-dynamics/" data-wpel-link="internal">Marathon Digital’s Record Revenue and Share Price Dynamics</a></h5>

Marathon Digital’s Record Revenue and Share Price Dynamics

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