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Marathon Digital | 8-K: Marathon Digital Holdings Reports Fourth Quarter and Fiscal Year 2023 Results

SEC announcement ·  Feb 28 22:32
Summary by Moomoo AI
On February 28, 2024, Marathon Digital Holdings, Inc. reported its financial results for the fourth quarter and fiscal year ended December 31, 2023. The company announced a significant increase in revenue and net income, with revenues rising 229% to a record $387.5 million and net income improving to $261.2 million, or $1.06 per diluted share. Adjusted EBITDA also saw a substantial improvement, reaching $419.9 million. Bitcoin production for the company increased by 210% to a record 12,852 BTC. Marathon Digital also reduced its debt by 56% to $331 million and entered into an agreement to acquire two data centers, expanding its mining portfolio. The company's hash rate increased by 253% to 24.7 EH/s. The financial results were discussed in a conference call held by the company, and a press release was furnished as Exhibit 99.1. The company's stock, traded under the symbol MARA on the Nasdaq Capital Market, reflected these positive outcomes in its financial performance.
On February 28, 2024, Marathon Digital Holdings, Inc. reported its financial results for the fourth quarter and fiscal year ended December 31, 2023. The company announced a significant increase in revenue and net income, with revenues rising 229% to a record $387.5 million and net income improving to $261.2 million, or $1.06 per diluted share. Adjusted EBITDA also saw a substantial improvement, reaching $419.9 million. Bitcoin production for the company increased by 210% to a record 12,852 BTC. Marathon Digital also reduced its debt by 56% to $331 million and entered into an agreement to acquire two data centers, expanding its mining portfolio. The company's hash rate increased by 253% to 24.7 EH/s. The financial results were discussed in a conference call held by the company, and a press release was furnished as Exhibit 99.1. The company's stock, traded under the symbol MARA on the Nasdaq Capital Market, reflected these positive outcomes in its financial performance.
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