Marathon Digital reported Q3 2024 revenue of $131.6 million, up 35% YoY, driven by higher BTC prices despite lower production post-halving. The company mined 2,070 BTC and purchased 6,210 BTC during the quarter, bringing total holdings to 26,747 BTC valued at $1.9 billion. Energized hash rate increased 93% YoY to 36.9 EH/s, while operating costs per petahash improved 18% YoY to $37.1.The company expanded capacity through strategic acquisitions, securing 372 MW in Ohio through the purchase of two operational data centers (222 MW) and development of a new facility (150 MW). Marathon also launched a 25 MW micro data center operation to transform flared gas into electricity and began deploying two-phase immersion cooling technology.Net loss widened to $124.8 million from $0.4 million YoY, impacted by higher operating costs and absence of prior year's debt extinguishment gain. Adjusted EBITDA improved to $21.8 million from a loss of $21.3 million last year. The company raised $666 million from ATM equity sales and secured a $200 million BTC-collateralized credit line to fund growth initiatives.

Marathon Digital reported Q3 2024 revenue of $131.6 million, up 35% YoY, driven by higher BTC prices despite lower production post-halving. The company mined 2,070 BTC and purchased 6,210 BTC during the quarter, bringing total holdings to 26,747 BTC valued at $1.9 billion. Energized hash rate increased 93% YoY to 36.9 EH/s, while operating costs per petahash improved 18% YoY to $37.1.The company expanded capacity through strategic acquisitions, securing 372 MW in Ohio through the purchase of two operational data centers (222 MW) and development of a new facility (150 MW). Marathon also launched a 25 MW micro data center operation to transform flared gas into electricity and began deploying two-phase immersion cooling technology.Net loss widened to $124.8 million from $0.4 million YoY, impacted by higher operating costs and absence of prior year's debt extinguishment gain. Adjusted EBITDA improved to $21.8 million from a loss of $21.3 million last year. The company raised $666 million from ATM equity sales and secured a $200 million BTC-collateralized credit line to fund growth initiatives.