In the first quarter of 2024, Bitcoin mining companies reported significant financial improvements. Core Scientific announced a net income of $211 million, marking a substantial recovery from the previous year. Marathon Digital also showcased a remarkable performance with a 223% increase in revenue to $165.2 million and a 184% rise in net income to $337.2 million, or $1.26 per diluted share. Their adjusted EBITDA also increased by 266% to a record $528.8 million. However, despite these gains, Marathon Digital faced operational challenges that impacted its revenue expectations. Additionally, the company's Bitcoin production increased by 28% year-over-year but saw a decline of 34% from the previous quarter.