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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/marathon-digital-soars-with-record-revenues-despite-share-price-dip" rel="noopener noreferrer nofollow">Marathon Digital Soars with Record Revenues Despite Share Price Dip</a><br></p>
<p style="text-align: justify">In a recent financial disclosure, Marathon Digital, a leading <a href="https://en.bitcoinhaber.net/altcoins-could-outshine-bitcoin-in-2023-says-crypto-analyst-jason-pizzino" rel="noopener noreferrer nofollow">Bitcoin</a> <a href="https://en.bitcoinhaber.net/marathon-digital-soars-with-record-revenues-despite-share-price-dip" rel="noopener noreferrer nofollow">mining</a> company in the United States, reported substantial revenue growth, culminating in a profitable year in 2023. Despite this success, the company’s stock experienced a decrease following the announcement of its fourth-quarter earnings. In 2023, Marathon Digital saw a record revenue of $387.5 million, marking an impressive 229% increase from the preceding year. Their fourth-quarter revenue alone surged to $156.8 million, a significant jump compared to analyst projections and the prior year’s figures.</p>
<h2 id="quarterly-earnings-exceed-expectations">Quarterly Earnings Exceed Expectations</h2>
<p style="text-align: justify">The company’s fourth-quarter earnings surpassed analysts’ forecasts by reaching $156.8 million, a striking 452% hike from the fourth quarter of the prior year. Marathon’s CEO, Fred Thiel, praised 2023 as a milestone year, highlighting the successful deployment and optimization of the company’s mining machinery. The surge in earnings was propelled by a 172% increase in Bitcoin production year-over-year, coupled with the average Bitcoin price nearly doubling. To cover operational expenses, Marathon liquidated 56% of its Bitcoin production within the quarter. Moreover, the company’s adjusted EBITDA shifted from a substantial loss to a robust gain of $260 million in the fourth quarter.</p>
<h2 id="marathon-s-bitcoin-production-hits-record-highs">Marathon’s Bitcoin Production Hits Record Highs</h2>
<p style="text-align: justify">Marathon’s annual Bitcoin production soared by 210%, yielding a record-breaking 12,852 Bitcoins. Their operational hash rate also saw significant growth, achieving a 253% increase to 24.7 EH/s. Despite the upbeat earnings report, Marathon’s shares slipped by 6.7% in after-hours trading. Nonetheless, the mining company’s stock value has seen an over 300% increase over the past year. Additionally, Marathon announced the development of Anduro, a Bitcoin Layer-2 platform, indicating strategic moves ahead of the anticipated Bitcoin halving in April.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/marathon-digital-soars-with-record-revenues-despite-share-price-dip" rel="noopener noreferrer nofollow">Marathon Digital Soars with Record Revenues Despite Share Price Dip</a></h5>

Marathon Digital Soars with Record Revenues Despite Share Price Dip

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