Form 8-K · Current Report · Filed 2024-02-28
Marathon Digital Holdings Reports Strong Q4 and FY 2023 Financial Results
Marathon Digital Holdings, Inc. reported its financial results for Q4 and FY 2023, showing a significant improvement in net income and adjusted EBITDA. Net income for the year was $261.2 million, or $1.06 per diluted share, compared to a net loss of $694.0 million in 2022. Revenues increased by 229% to $387.5 million, driven by a 210% increase in bitcoin production. Adjusted EBITDA improved to $419.9 million from a loss of $543.3 million in 2022. Bitcoin production also increased by 210% to 12,852 BTC in 2023. The company sold 74% of the bitcoin it produced in 2023 to fund operating costs.
- Filer
- Mara Holdings Inc. MARA · NASDAQ
- Filed
- Accession
- 0001493152-24-008232
- CIK
- 0001507605
- Signal
- Medium impactFinancial Services
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$30.31
Next session
-14.5%
Since filing
-62.7%
Latest close
$11.30
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from MARA reporting the same item, with the next session's move:
Exhibits (1)
About Mara Holdings Inc.
Mara Holdings Inc. is a company that primarily specializes in the financial and technological sectors, focusing on innovative endeavors within its portfolio. As part of its core business model, Mara Holdings engages in cryptocurrency mining and digital asset management, which positions it in the rapidly evolving digital finance industry. Its operations include mining of major cryptocurrencies, which involves the validation of digital transactions and adding them to a blockchain ledger, a process crucial to the functionality and security of cryptocurrency networks. The influence of Mara Holdings Inc. extends across multiple sectors, including financial technology and digital currencies, drawing considerable interest as industries adopt blockchain technology and decentralized finance solutions. The company's participation in these markets underscores its role as a proactive entity capitalizing on digital transformation trends. In the context of market significance, Mara Holdings Inc. represents a blend of traditional financial management with the innovative potential of blockchain technology. Its activities not only contribute to the digital asset ecosystem but also highlight the increasing importance of integrating technology-driven financial solutions in today’s economy.
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