We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Marathon Digital Holdings Inc | NASDAQ:MARA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.27 | -6.11% | 19.53 | 19.50 | 19.53 | 21.44 | 19.06 | 20.77 | 59,027,931 | 01:00:00 |
Management Commentary"With capacity in Ellendale coming back online and improvements made at other sites, we increased our average operational hash rate 15% in April to 21.1 exahash and increased our bitcoin production 21% to 850 bitcoin," said Fred Thiel, Marathon's chairman and CEO. "In April, we achieved an all time operating hash rate high of 25.9 exahash. Transaction fees also reached all time highs around the Halving, which we were able to capitalize on with our Slipstream service and our proprietary mining pool. Just before the Halving, we earned an additional 4.25 bitcoin from Slipstream alone, and MARA Pool outperformed, capturing one block with 10 bitcoin and another with 16 bitcoin in transaction fees. Ultimately, transaction fees accounted for approximately 16% of the bitcoin we earned in April.
"We continued to expand into the available capacity at our recently acquired sites, including those at Kearney and Garden City. During April, we successfully energized approximately 2 exahash worth of miners at various locations, which includes the 9,500 machines we relocated from Ellendale to Garden City.
"While last month's Halving event will reduce bitcoin production for all miners, we are accelerating our growth plans to mitigate the impact. Given the amount of capacity we have available following our recent acquisitions and the amount of hash rate we have access to through current machine orders and options, we now believe it is possible for us to double the scale of Marathon’s mining operations in 2024 and achieve 50 exahash by the end of the year. With this growth fully funded based on our current liquidity, we look forward to improving our position as a leader in converting underutilized energy into economic value."
Operational Highlights and UpdatesFigure 1: Operational Highlights
Year-Over-Year Comparison | Prior Month Comparison | |||||||||||||||||||||||
Metric | 4/30/2024 | 4/30/2023 | % Δ | 4/30/2024 | 3/31/2024 | % Δ | ||||||||||||||||||
Bitcoin Produced | 850 | 702 | 21 | % | 850 | 894 | (5 | )% | ||||||||||||||||
Average Bitcoin Produced per Day | 28.3 | 23.4 | 21 | % | 28.3 | 28.8 | (2 | )% | ||||||||||||||||
Share of available miner rewards 1 | 3.2 | % | 2.5 | % | NA | 3.2 | % | 3.0 | % | NA | ||||||||||||||
Transaction Fees as % of Total 5 | 16.2 | % | 3.0 | % | NA | 16.2 | % | 4.5 | % | NA | ||||||||||||||
Number of Blocks Won 5 | 129 | 99 | 30 | % | 129 | 118 | 9 | % | ||||||||||||||||
Energized Hash Rate (EH/s) 2 | 29.9 | 14.0 | 114 | % | 29.9 | 27.8 | 8 | % | ||||||||||||||||
Average Operational Hash Rate (EH/s) 3 | 21.1 | 10.6 | 99 | % | 21.1 | 18.3 | 15 | % | ||||||||||||||||
Installed Hash Rate (EH/s) 4 | 29.9 | 17.9 | 67 | % | 29.9 | 27.8 | 7 | % |
In April, Marathon energized approximately 14,000 additional miners (c. 2.0 EH/s), 9,500 of which were successfully relocated from Ellendale to Garden City. As a result, Marathon's operating fleet increased to approximately 240,000 Bitcoin miners, theoretically capable of producing 29.9 EH/s. In April, Marathon also achieved an all time operating hash rate high of 25.9 EH/s. Hash rate figures are calculated according to the manufacturers' specifications.
Figure 2: Operational Details by Site
Hash Rates in EH/s | Installed Hash Rate | Energized Hash Rate | Avg Operating Hash Rate | Avg % of Energized | ||||||||||||||||||||||||||||||||
Site | State | Host | Apr 2024 | Mar 2024 | Apr 2024 | Mar 2024 | Apr 2024 | Mar 2024 | Apr 2024 | Mar 2024 | ||||||||||||||||||||||||||
Owned Operated | ||||||||||||||||||||||||||||||||||||
Granbury | TX | Marathon | 4.4 | 4.2 | 4.4 | 4.2 | 3.6 | 3.2 | 82 | % | 77 | % | ||||||||||||||||||||||||
Garden City | TX | Marathon | 5.8 | 4.5 | 5.8 | 4.5 | 4.6 | 3.5 | 79 | % | 78 | % | ||||||||||||||||||||||||
Kearney | NE | Marathon | 1.9 | 1.2 | 1.9 | 1.2 | 1.2 | 0.8 | 63 | % | 67 | % | ||||||||||||||||||||||||
Total owned operated | 12.1 | 9.9 | 12.1 | 9.9 | 9.4 | 7.5 | 78 | % | 76 | % | ||||||||||||||||||||||||||
Third-party Hosted | ||||||||||||||||||||||||||||||||||||
McCamey | TX | US Bitcoin | 7.6 | 7.7 | 7.6 | 7.7 | 6.2 | 6.4 | 82 | % | 83 | % | ||||||||||||||||||||||||
Ellendale | ND | Applied | 6.5 | 6.5 | 6.5 | 6.5 | 1.9 | 0.9 | 29 | % | 14 | % | ||||||||||||||||||||||||
Jamestown | ND | Applied | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 99 | % | 98 | % | ||||||||||||||||||||||||
All Other | Various | 2.3 | 2.3 | 2.3 | 2.3 | 2.2 | 2.0 | 96 | % | 88 | % | |||||||||||||||||||||||||
Total third-party hosted | 17.8 | 17.9 | 17.8 | 17.9 | 11.7 | 10.7 | 66 | % | 60 | % | ||||||||||||||||||||||||||
Total | 29.9 | 27.8 | 29.9 | 27.8 | 21.1 | 18.2 | 71 | % | 65 | % |
As of April 30, 2024 the Company holds a total of 17,631 unrestricted BTC. Marathon opted to sell 600 bitcoin in April. The Company still intends to sell a portion of its bitcoin holdings in future periods to support monthly operations, manage its treasury, and for general corporate purposes.
Financial Highlights and UpdatesFigure 3: Financial Highlights
Year-Over-Year Comparison | Prior Month Comparison | |||||||||||||||||||||||
Metric | 4/30/2024 | 4/30/2023 | % Δ | 4/30/2024 | 3/31/2024 | % Δ | ||||||||||||||||||
Total Cash, Cash Equivalents & Restricted Cash ($, in millions) | $ | 145.3 | $ | 123.5 | 18 | % | $ | 145.3 | $ | 324.3 | (55 | )% | ||||||||||||
Unrestricted Cash | 133.3 | 123.5 | 8 | % | 133.3 | 324.3 | (59 | )% | ||||||||||||||||
Restricted Cash | 12.0 | — | NA | 12.0 | — | NA | ||||||||||||||||||
Total BTC Holdings (in whole numbers) | 17,631 | 11,568 | 52 | % | 17,631 | 17,381 | 1 | % | ||||||||||||||||
Unrestricted BTC Holdings | 17,631 | 11,568 | 52 | % | 17,631 | 17,381 | 1 | % | ||||||||||||||||
Restricted BTC Holdings | — | — | NA | — | — | NA | ||||||||||||||||||
Pledged BTC Holdings | — | — | NA | — | — | NA |
Marathon held $145.3 million in cash and cash equivalents on its balance sheet at month end, $133.3 of which was unrestricted. During April, the combined balance of unrestricted cash and cash equivalents and bitcoin decreased from $1,563.4 million to $1,214.1 million at April 30, 2024.
Marathon's first quarter 2024 webcast and conference call is set for Thursday, May 9, 2024 at 5:00 pm Eastern time. To register to participate in the conference call or to listen to the live audio webcast, please use this link.
Earnings Webcast and Conference Call DetailsDate: Thursday, May 9, 2024Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)Registration link: LINK
Recent Announcements
Investor Notice Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 28, 2024. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements in this press release relate to the expected timing and achievement of our growth targets, specifically relating to our anticipated hash rate and exahash growth. You can identify forward-looking statements by the use of words such as “may,” “will,” “could,” “anticipate,” “expect,” “intend,” “believe,” “continue,” or the negative of such terms, or other comparable terminology. Forward-looking statements include the assumptions underlying or relating to such statements. The Company has based these forward-looking statements largely on its current expectations and projections about future events and trends that we believe may affect its business, results of operations and financial condition. The outcomes of the events described in these forward-looking statements are subject to risks, uncertainties and other factors described under the heading “Risk Factors” in the reports the Company files with the Securities and Exchange Commission. The Company cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from those expressed or implied in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date of this press release. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made.
About Marathon Digital Holdings Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The Company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in North America.
For more information, visit www.mara.com, or follow us on:
Twitter: @MarathonDHLinkedIn: www.linkedin.com/company/marathon-digital-holdings Facebook: www.facebook.com/MarathonDigitalHoldings Instagram: @marathondigitalholdings
Marathon Digital Holdings Company Contact: Telephone: 800-804-1690Email: ir@mara.com
Marathon Digital Holdings Media Contact:Email: marathon@wachsman.com
1 Year Marathon Digital Chart |
1 Month Marathon Digital Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions