Bitcoin Miner Marathon First-Quarter Earnings Beat Estimates as SEC Extends Probe

Marathon Digital Holdings (MARA), one of the largest publicly traded crypto miners in North America, reported a narrower-than-forecast first-quarter loss per share as a rising bitcoin price and increased production helped lift the Florida-based company back toward profitability. Marathon posted a net loss of $0.05 per share compared with an average estimate of $0.08 according to FactSet data. The loss narrowed from the previous quarter, when it was $3.14, as well as the same period in 2022, when it was $0.12, according to a Wednesday filing. Revenue rose to $51.1 million from $28.4 million in the previous three months.

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