Commentary on Marathon Digital Holding’s Q2’22 Earnings
Quick Take
- Marathon 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, 2021
- 10,055 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 highs
- In addition to macro headwinds, Marathon faced downtime, maintenance and regulatory setbacks in Q2’22
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Author: Greg Lim
