Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Bitcoin miner Marathon Digital (MARA) reported second-quarter adjusted earnings on Friday morning that beat analysts’ average estimate, but its revenue fell short of predictions.  

  • Shares were up 4.4% in pre-market trading Friday to $35.34. They have more than tripled this year.
  • The miner reported adjusted earnings per share of $0.21, ahead of analyst estimates of $0.16, according to FactSet.
  • Its adjusted earnings excluded the impact of depreciation and amortization of fixed assets, impairment losses on mined cryptocurrency, server maintenance contract amortization and stock compensation expense. On a GAAP (generally accepted accounting principles) basis, the company reported a net loss of $1.09 per share, compared with a net loss of $0.13 in the same period a year earlier.
  • Revenue came in at $29.3 million, short of estimates for $34.4 million. The figure increased 220% from $9.2 million in the first quarter and was up from $286,000 in last year's second quarter.
  • The company also said it produced 654 newly minted bitcoins in the second quarter, bringing the total of new bitcoins mined for the first half of 2021 to 846.
  • Its investment fund, which purchased 4,812.66 BTC for about $150 million in January, increased in fair value by $16.9 million during the first six months of the year.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.