Marathon Digital reports Q2 EPS (72c), consensus (14c)

Reports Q2 revenue $145.1M, consensus $157.84M. The net loss includes $148M loss on fair value of digital assets. The company said, “During the second quarter of 2024, our BTC production was impacted by unexpected equipment failures and transmission line maintenance at the Ellendale site operated by Applied Digital, increased global hash rate, and the April halving event. However, I’m pleased to report that transformer issues at the Ellendale site were mitigated and remediated post quarter end, and our hash rate recovery effort is complete. We reached an all-time high installed hash rate of 31.5 exahash in the second quarter and continue to target 50 exahash of energized hash rate by the end of 2024 with additional growth in 2025.”