Feb 26, 09:38 PM

Marathon Digital Posts $214M Q4 Revenue, $528M Net Income, and Plans AI Integration

Marathon Digital Holdings (MARA) reported strong financial results for Q4 2024 and the full year. Quarterly revenue increased 37% year-over-year to $214.4 million, surpassing the estimated $182 million. Full-year revenue rose 69% to $656.4 million compared to $387.5 million in 2023, driven by a 132% increase in Bitcoin prices. Net income for Q4 grew 248% to $528.3 million, up from $151.8 million in the same quarter last year. Earnings per share (EPS) for the quarter reached $1.24, significantly exceeding analysts' expectations of $0.69. The company's adjusted EBITDA rose 207% year-over-year to $794.4 million. Despite a 27% decline in Bitcoin production due to the April 2024 halving event, MARA mined 2,492 BTC in Q4 and increased total blocks won by 25% to 703. The company holds 44,893 Bitcoin, valued at approximately $4.6 billion, and did not sell any during the quarter. MARA's hashrate grew 115% year-over-year to 53.2 EH/s, supported by strategic acquisitions and energy capacity expansions. However, energy and hosting costs rose 70% to $127.4 million, with direct energy costs per Bitcoin increasing to $28,801 from $23,000 in the prior year. The company has announced plans to explore artificial intelligence (AI) technology, aiming to enhance operational efficiency. MARA's stock price rose 7.41% in after-hours trading to $13.38 following the earnings announcement.

#Marathon Digital Holdings #MARA #Bitcoin

Written with ChatGPT (GPT-4o).