Company stock dipped slightly despite the bumper earnings report, though MARA has gained 300% over the past 12 months.
United States Bitcoin mining giant Marathon Digital saw revenues surge in 2023 as it swung to a profit, however, company stock dipped following the release of its fourth-quarterly revenue report.
Marathon Digital released its fourth-quarter and annual earnings report on Feb. 28, revealing that the firm made a record $387.5 million in revenue in 2023, increasing 229% from the previous year.
“2023 was a record-breaking year for Marathon, during which we achieved our primary objectives of energizing our fleet of previously purchased mining rigs and optimizing our performance,” said Marathon CEO Fred Thiel.
