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TheBlock 2022-09-06 14:09:39

Commentary on Marathon Digital Holding’s Q2’22 Earnings

Quick TakeMarathon Digital Holdings reported earnings on August 8, 2022 Mined 707 BTC, +8% YoY and (44%) QoQ from 655 BTC and 1,259 BTC respectively YTD through July 31, 2022 produced 2,038 BTC, a +58% YoY compared to YTD July 31, 202110,055 BTC current holdings, reflecting ~$199mm as of this writing Reported a ($191.6mm) net income compared to ($108.9mm) in Q2’21 Challenging quarter as energy prices increased due to Russia’s invasion of Ukraine and Bitcoin’s price tumbled from November 2021 all-time highsIn addition to macro headwinds, Marathon faced downtime, maintenance and regulatory setbacks in Q2’22 

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