NASDAQ$MARA
Marathon Digital Holdings Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Marathon Digital reported a net income of $64.1 million and revenues of $97.8 million, driven by increased bitcoin production and higher average bitcoin prices.
Marathon Digital Holdings reported a net income of $64.1 million, or $0.35 per diluted share, compared to a net loss of $72.5 million in the same period last year. Revenues significantly increased to $97.8 million, driven by a 467% increase in bitcoin production and higher average bitcoin prices.
- Grew energized hash rate 8% quarter-over-quarter to 19.1 exahashes.
- Increased U.S. average operational hash rate 18% to 14.2 exahashes.
- Reduced long-term debt by 56% through a $417 million note exchange, capturing $101 million in cash savings.
- Combined cash and bitcoin holdings exceeded debt for the first time in two years.
Headline financials
Revenue & EPS history
Marathon Digital · Revenue · Quarterly
$97.8M
Forward guidance
Marathon expects to reach 26 exahash by year-end 2023 and grow hash rate by approximately 30% in 2024, strengthening its position as a leading Bitcoin mining operation.
Tailwinds
- Reach 26 exahash by year-end 2023.
- Grow hash rate by approximately 30% in 2024.
- Continue strengthening Marathon’s position as one of the largest Bitcoin mining operations globally.
- Continue strengthening Marathon’s position as one of the most energy-efficient Bitcoin mining operations globally.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-1.2%
Avg return
Earnings day
+5.3%
Avg return
5 days after
+1.8%
Avg return
30 days after
44%
24 / 55 earnings
Positive
+21.6%
Q3 2015
Best reaction
-17.2%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.2% | -4.0% | -3.4% | |
| Q4 2025 | -8.3% | +9.9% | -5.1% | |
| Q3 2025 | +4.2% | -6.3% | -29.4% | |
| Q1 2025 | +10.6% | +11.1% | +10.4% | |
| Q4 2024 | +5.5% | +12.2% | +0.2% | |
| Q3 2024 | -13.2% | -15.8% | -9.7% | |
| Q2 2024 | -12.6% | -12.3% | -15.1% | |
| Q1 2024 | -14.6% | -10.1% | -4.1% | |
| Q4 2023 | -14.5% | -15.2% | -25.5% | |
| Q3 2023 | +0.5% | +0.0% | +82.8% | |
| Q2 2023 | +2.9% | -1.3% | -18.0% | |
| Q1 2023 | -6.9% | +1.7% | +0.0% | |
| Q4 2022 | +15.2% | +25.1% | +68.8% | |
| Q3 2022 | -8.5% | -7.0% | -48.7% | |
| Q2 2022 | -0.4% | +28.7% | -17.6% | |
| Q1 2022 | -5.2% | -28.0% | -47.6% | |
| Q4 2021 | +6.0% | -10.0% | +10.3% | |
| Q3 2021 | -7.1% | -27.2% | -46.9% | |
| Q2 2021 | -2.4% | -9.0% | +5.6% | |
| Q1 2021 | -17.2% | -26.3% | -16.6% | |
| Q4 2020 | +0.2% | -0.1% | -2.2% | |
| Q3 2020 | +2.6% | +33.0% | +103.9% | |
| Q2 2020 | +4.8% | -11.5% | -49.3% | |
| Q1 2020 | +8.1% | +9.5% | +25.7% | |
| Q4 2019 | +0.0% | -3.8% | -19.2% | |
| Q3 2019 | -5.3% | -14.3% | -17.3% | |
| Q2 2019 | +0.5% | -2.4% | -20.1% | |
| Q1 2019 | +19.0% | +13.4% | -24.3% | |
| Q4 2018 | -12.3% | -8.8% | +36.0% | |
| Q3 2018 | -5.7% | -4.3% | -35.7% | |
| Q2 2018 | -7.3% | -7.3% | -10.4% | |
| Q1 2018 | -8.2% | -11.6% | -21.8% | |
| Q4 2017 | -3.3% | -4.7% | -6.7% | |
| Q3 2017 | +2.2% | +328.1% | +310.1% | |
| Q2 2017 | +4.0% | +24.0% | +44.0% | |
| Q1 2017 | -8.1% | -27.0% | -51.4% | |
| Q4 2016 | +5.2% | -5.2% | -44.3% | |
| Q3 2016 | +1.7% | -15.2% | -33.9% | |
| Q2 2016 | -0.3% | -3.3% | -4.9% | |
| Q1 2016 | +14.1% | — | — | |
| Q4 2015 | -2.9% | — | — | |
| Q3 2015 | +21.6% | — | — | |
| Q2 2015 | -13.7% | — | — | |
| Q1 2015 | +7.9% | — | — | |
| Q4 2014 | -4.1% | — | — | |
| Q3 2014 | +3.6% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q2 2014 | -6.9% | — | — | |
| Q3 2013 | +0.9% | — | — | |
| Q2 2013 | +1.0% | — | — | |
| Q1 2013 | -2.2% | — | — | |
| Q4 2012 | -12.5% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +0.0% | — | — | |
| Q1 2012 | -1.9% | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q2 2010 | — | — | — |
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