According to FactSet data, Marathon Digital (MARA), one of the world’s largest bitcoin miners, reported third-quarter revenue of $12.7 million, falling short of the average analyst estimate of $23.4 million. According to FactSet, net loss per share was $0.72 for the quarter, which was worse than the $0.15 average estimate. During the regular session, shares fell 5.1%. In addition to the miss, Marathon reduced its year-end 2022 computing power, or hashrate, expectations from 11.5 exahash/second (EH/s) to 9 EH/s from previous guidance of 11.5 EH/s. However, the company reiterated its goal of having 23 EH/s of computing power running by mid-2023. As of November 1st, the hashrate was 7 EH/s.
