Bitcoin miner MarathonDH missed analyst estimates for the third quarter and lowered hashrate expectations for year-end, but reiterated guidance of 23 EH/s by mid-2023. $MARA egreechee reports
Marathon Digital , one of the largest bitcoin miners in the world, reported third quarter revenue of $12.7 million, shy of the average analyst estimate of $23.4 million, according to FactSet data.
Shares fell 5.1% in the regular session today alongside a steep drop in bitcoin to about $18,000. The stock's lower by another 2.2% in after hours action. CEO Fred Thiel called the quarter a transitionary period as his company exited a site in Hardin, Montana and began energizing operations in Texas.
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