Posted 2/28/2024, 4:36:00 PM
Marathon Digital Stock Outperforms Mining Peers Ahead of Earnings, But Trails Bitcoin Rally
- Marathon Digital shares outperformed mining peers ahead of earnings, rising over 6% while bitcoin surpassed $60k
- Q4 earnings likely to show strong growth due to 50% increase in average bitcoin price and higher transaction fees
- Analyst expects Q4 sales of $148.8M, up 52% from Q3, but lower EPS of $0.04 vs $0.35 last quarter
- Analyst looking for Marathon's plans to shift to self-hosted mining and purchase more mining rigs
- Marathon underperformed bitcoin YTD with 20% stock rise compared to bitcoin's 44% rally