Marathon Digital Releases Second Quarter Results Report

Odaily Planet Daily News Mining company Marathon Digital released its second-quarter performance report. In the second quarter, its computing power increased by 54%, from 11.5 EH/s to 17.7EH/s. A total of 2,926 BTCs were produced, an increase of 33% from the 2,195 BTCs in the first quarter, and the output in the second quarter accounted for 3.3% of the Bitcoin network rewards. In addition, Marathon sold 63% of the BTC produced in the second quarter to cover operating costs, with a sale amount of $23.4 million. The net loss for the second quarter was $21.3 million, up from a net loss of about $7 million in the previous quarter. The miner posted an adjusted loss per share of $0.13 on revenue of $81.8 million, missing analysts' expectations for both earnings and revenue. (Globe Newswire)