Bitcoin miner Marathon expected to see revenue triple in Q4
Quick Take
- Marathon Digital Holdings is presenting its fourth-quarter earnings Tuesday after the U.S. close.
- The miner is expected to post $38.4 million in revenue, triple what it made in the quarter before but still down from $60.3 million for the same period last year.
Marathon is expected to post triple the revenue it brought in during the third quarter for its fourth-quarter earnings after the U.S. close today.
The miner is expected to report $38.4 million in revenue, which is still down year-over-year from $60.3 million, according to analyst estimates compiled by FactSet.
Estimates for net loss are also looking better, with analysts projecting $24 million, compared to $75.4 million in the three months before and a net income of $11.5 million in the fourth quarter of 2021.
Marathon's mining capacity ramped back up in the last quarter as it moved a large portion of its hardware into a wind-powered site in Texas after pulling them out of another site in Montana.
Miners are still struggling due to months of operating at depressed margins, but January has been kinder with bitcoin surging back up to August levels at around $23,000.
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