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Marathon Digital reports 729% surge in February bitcoin production

Cryptocurrency market

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  • Marathon Digital (NASDAQ:MARA) produced 360.3 self-mined bitcoin during February 2022, a Y/Y increase of 729%; total bitcoin holdings increased to ~8,956 BTC with a fair market value of ~$386.8M.
  • Monthly bitcoin production:

  • Cash on hand stood

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Comments (6)

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pat45 profile picture
MARA missed earnings by a mile when bitcoin at highest price and resources and energy cost at their lows... Glad for bounce today but selling, they will not be profitable next Quarter
I’m just trying to get back to even
The Lawman profile picture
MARA should be making money hand over fist.
ThreeDayCondor profile picture
@The Lawman is this a joke?!

Marathon: (like RIOT) its GROSS revenue in 2021 was about $150 million.

But it paid the executives ~$164 million in 2021.

It can’t even cover its electric bill… even with the highest prices in BTC’s history, for chunks of last year.

What a joke.
ephud profile picture

I believe you're referring to stock compensation, no?

As for not being able to cover their electric bill, was the power cut off?
ThreeDayCondor profile picture
@ephud — funny. Riot actually did shut down power to the plant in Texas in February due to cold weather in Texas. It became a mini Enron for a few days. Sad business model.

The incontrovertible fact is these companies are wildly unprofitable.

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