Marathon Digital Q4 earnings beat even as production hurt by maintenance

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Marathon Digital (NASDAQ:MARA) Q4 non-GAAP EPS of $0.36 topped the $0.34 consensus; fell from $0.85 in Q3, but improved from -$0.05 in the year-ago quarter.

The company generated 1,098 self-mined bitcoin (BTC-USD) in Q4 2021, down from 1,252 in Q3.

“While maintenance to the power generating station in Hardin, MT materially impacted our bitcoin production in November, we still produced 1,098 bitcoin (BTC-USD) in the fourth quarter and ended the year with our most productive month to date, producing 484.5 bitcoin in December alone," said Chairman and CEO Fred Thiel.

Q4 cryptocurrency mining revenue of $60.3M increased from $51.7M in Q3 and $2.64M in Q4 2020.

Q4 total operating expenses of $38.6M, including $11.1M impairment of mined crypto, dropped from $116M in Q3, and increased from $7.60M in Q4 2020.

Realized gain on sale of digital currencies of $5.1M vs. $8.2M in Q3

Q4 interest income of $267.7K vs. $84.5K in the previous quarter.

As of Dec. 31, 2021, Marathon's (MARA) cash and cash equivalents was $268.5M vs. $32.9M at Q3-end and total liquidity was ~$616.5M vs. $315.6M at Sept. 30, 2021.

Marathon Digital (MARA) stock edges up 0.3% in after-hours trading.

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