B. Riley analyst Lucas Pipes lowered the firm’s price target on Marathon Digital to $5 from $6 and keeps a Neutral rating on the shares after the company reported Q4 adjusted EBITDA of ($374M). After excluding impairment charges related to deposits, digital assets, and mining equipment, Marathon missed the firm’s EBITDA estimate of $2.3M by roughly $17M on higher energy and hosting costs and higher G&A expense, the analyst tells investors.
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Published first on TheFly
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