Marathon Digital Ramps Up Mining Capacity - Is A Turnaround in the Making?
Marathon Digital Ramps Up Mining Capacity - Is A Turnaround in the Making?
B. Riley Securities analyst Lucas Pipes maintained Marathon Digital Holdings Inc (NASDAQ:MARA) with a Neutral and lowered the price target from $19 to $18.
B. 萊利證券分析師盧卡斯·派普斯維持馬拉松數字控股公司（納斯達克股票代碼：MARA）的中性評級，並將目標股價從19美元下調至18美元。
Marathon Digital Holdings reported a first-quarter miss after excluding gains on digital assets and other non-recurring items.
馬拉松數字控股公司報告稱，扣除數字資產和其他非經常性項目的收益後，第一季度出現虧損。
Adjusted EBITDA, excluding these items, came in at $51.1 million on Pipes' estimates below his prior estimate of $83.5 million and consensus of $77.1 million.
調整後的息稅折舊攤銷前利潤（不包括這些項目）爲5,110萬美元，低於Pipes先前估計的8,350萬美元和預期的7,710萬美元。
The company underperformed on elevated power and operating costs compared to Pipes' estimates, while revenue was also lower than he had anticipated.
與Pipes的估計相比，由於電力和運營成本增加，該公司的表現不佳，收入也低於他的預期。
So long as fully loaded production costs are above BTC prices, Pipes noted that the equity will likely continue to underperform its BTC benchmark, especially when investors have the alternative of holding liquid ETFs.
Pipes指出，只要滿負荷的生產成本高於比特幣價格，該股票的表現可能會繼續低於其BTC基準，尤其是在投資者可以選擇持有流動ETF的情況下。
He updated his estimates for the second quarter and 2024 adjusted EBITDA from $83.5 million to $68.0 million and from $363.1 million to $758.3 million, respectively.
他將第二季度和2024年調整後的息稅折舊攤銷前利潤分別從8,350萬美元更新至6,800萬美元和3.631億美元至7.583億美元。
Needham analyst John Todaro reiterated Marathon Digital Holdings with a Hold.
尼德姆分析師約翰·託達羅重申了馬拉松數字控股的擱置。
MARA reported results after the close Thursday, missing on top-line and adjusted EBITDA ex-BTC gains, Todaro said.
託達羅說，MARA在週四收盤後公佈了業績，未達到營收和調整後的扣除比特幣的息稅折舊攤銷前利潤的漲幅。
The miss was primarily due to outages at Ellendale, but management estimates that around 60%- 65% of site capacity is currently online.
這次失誤主要是由於埃倫代爾停機造成的，但管理層估計，目前約有60％至65％的站點容量處於在線狀態。
He said G&A also increased sequentially, but management expects cash G&A to stay nearly flat for the remainder of fiscal 2024.
他說，併購也連續增長，但管理層預計，在2024財年的剩餘時間內，現金併購將幾乎保持不變。
Marathon Digital Holdings reported revenue of $165 million, compared to Needham's estimates of $175 million.
馬拉松數字控股公司公佈的收入爲1.65億美元，而尼德姆的估計爲1.75億美元。
The company also reported adjusted EBITDA ex-BTC gains of $40 million, compared to Needham estimates of $66 million.
該公司還報告稱，調整後的扣除比特幣的息稅折舊攤銷前利潤爲4000萬美元，而Needham的估計爲6600萬美元。
MARA increased its target from a previous range of 35 EH/s—37 EH/s to 50 EH/s by the end of fiscal 2024 and expects hosting to be gone by the third quarter of fiscal 2024.
到2024財年底，MARA將其目標從之前的35EH/s—37 EH/s提高到50EH/s，並預計到2024財年第三季度將取消託管服務。
The analyst liked the improved costs for the remainder of fiscal 2024 as the company becomes more vertically integrated, with 54% of sites owned and operated by MARA.
這位分析師喜歡，隨着公司的垂直整合程度提高，2024財年剩餘時間的成本有所改善，54％的場地由MARA擁有和運營。
He increased his revenue estimates to reflect the increased hash rate coming online in fiscal 2024, but he also increased total network hash estimates, which partially offset.
他提高了收入預期，以反映2024財年上線哈希率的提高，但他也提高了總網絡哈希估計，這部分抵消了這一估計。
MARA stock gained 76% in the last 12 months. Investors can gain exposure to the stock via Global X Blockchain ETF (NASDAQ:BKCH) and IShares Trust IShares Blockchain And Tech ETF (NYSE:IBLC).
在過去的12個月中，MARA的股票上漲了76％。投資者可以通過Global X區塊鏈ETF（納斯達克股票代碼：BKCH）和iShares Trust iShares區塊鏈和科技ETF（紐約證券交易所代碼：IBLC）獲得股票敞口。
Price Action: MARA shares traded lower by 8.55% at $17.97 at the last check Friday.
價格走勢：在週五的最後一次支票中，MARA股價下跌8.55％，至17.97美元。
Image: Eivind Pedersen from Pixabay
圖片：來自 Pixabay 的 Eivind Pedersen