Marathon reports record net revenue of $337.2 million in first quarter of 2024
Bitcoin mining company Marathon Digital Holdings reported a record net profit of $337.2 million in the first quarter of 2024. The quarterly net profit announced by the company in its earnings report on May 9th increased by 184% compared to the first quarter of 2023, which was $118.7 million. The diluted earnings per share for this quarter were $1.26. The company announced that its first quarter revenue for 2024 reached a record $165.2 million, an increase of 223% from the same period last year, which was $51.1 million.
As of March 31st, Marathon held a total of $1.6 billion in unrestricted cash, cash equivalents, and Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto Expert Says Memecoins Are Ready for a Major Comeback
U.S. Bitcoin ETFs See $494 Million Surge in Six-Day Inflow Streak
Bullish Pattern Drives PEPE’s Potential as Asset Sees 45% Price Surge to $0.000017