Bitcoin miner Marathon Digital Holdings announced that its revenue for the fourth quarter of 2022 fell 58% year on year to $28.4 million. In Q4 2022, Bitcoin production at Marathon, however, increased by 42% to a record 1,562. Annual production increased by 30% to 4,144 in 2022. Marathon Digital Holdings, a Bitcoin mining company, announced […]
that its revenue for the fourth quarter of 2022 fell 58% year on year to $28.4 million.
In Q4 2022, Bitcoin production at Marathon, however, increased by 42% to a record 1,562. Annual production increased by 30% to 4,144 in 2022.that its revenue for the fourth quarter of 2022 fell 58% year on year to $28.4 million.revenue of around $38.4 million for the fourth quarter. Last month, the company canceled an earnings call and delayed the release of results to correct accounting errors related to the impairment of digital assets.
As per the latest report, full-year revenue for 2022 fell down to $117.8 million, reflecting a drop of 26% from a restated $159.2 million in 2021. The company’s net loss for the year was $686.7 million, compared to a loss of $37.1 million in 2021. The results were impacted by a $332.9 million fourth-quarter impairment charge related to the carrying value of mining rigs and advance payments to vendors, in addition to the decline of $317.6 million in the carrying value of its digital assets.
In the fourth quarter of 2022, Bitcoin production increased by 42% to a record 1,562. Annual production increased by 30% to 4,144 in 2022.Marathon shares declined to $7.5 yesterday in post-market trading, showing a drop of 0.13%. At press time, it was trading at $7.63.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Driving By Numbers: 10 Most improved vehicles sales in Canada in 20222022 produced Canada’s lowest annual auto sales volume since the crisis of 2009, but these 10 vehicles altered their trend lines
Read more »
Driving By Numbers: 10 Most improved vehicles sales in Canada in 20222022 produced Canada’s lowest annual auto sales volume since the crisis of 2009, but these 10 vehicles altered their trend lines
Read more »
Driving By Numbers: 10 Most improved vehicles sales in Canada in 20222022 produced Canada’s lowest annual auto sales volume since the crisis of 2009, but these 10 vehicles altered their trend lines
Read more »
“Capitalism Sux”: 50 Disturbing Anti-Capitalism Posts That Hit Too Close To Home“Capitalism Sux”: 50 Disturbing Anti-Capitalism Posts That Hit Too Close To Home Capitalism Disturbing
Read more »
Driving By Numbers: 10 Most improved vehicles sales in Canada in 20222022 produced Canada’s lowest annual auto sales volume since the crisis of 2009, but these 10 vehicles altered their trend lines
Read more »
Driving By Numbers: 10 Most improved vehicles sales in Canada in 20222022 produced Canada’s lowest annual auto sales volume since the crisis of 2009, but these 10 vehicles altered their trend lines
Read more »