Marathon Digital Misses Revenue Expectations, Reports $611M Net Loss

Marathon Digital's quarterly earnings fell short of expectations, with a net loss of $611.3 million and revenue of $174.9 million, down from $238.5 million in the same period last year.

The company attributed its losses to lower Bitcoin prices and an unrealized digital-asset mark-to-market loss of $343 million.

Marathon Digital's power portfolio is expected to reach 4.8 gigawatts after completing the Long Ridge transaction, with approximately 70% of the power output covered by long-term contracts.

The company's CFO, Salman Hassan Khan, sold 16,000 shares of stock on June 17th for $228,000, while General Counsel Zabi Nowaid sold 7,000 shares for $99,750.