Posted 2/28/2024, 10:06:00 PM
Marathon Digital Exceeds Q4 Sales Expectations Despite Bitcoin Accounting Loss
- Marathon Digital beats Wall Street's Q4 sales expectations mainly due to higher bitcoin price
- Reported Q4 sales of $156.8 million, beating estimate of $148.8 million
- Company said Q4 net loss would've been $0.02 per share excluding accounting rules
- Analysts estimated Q4 earnings per share of $0.04
- Sold 56% of mined bitcoin to fund operating costs
- Reiterated 2024 mining power outlook of 35-37 exahash per second