Mining company Marathons second-quarter revenue was $145.1 million, lower than expected

Odaily News According to FactSet data, Bitcoin mining company Marathon Digital Holdings had revenue of $145.1 million in the second quarter, which fell short of Wall Streets expectations of $157.9 million. Marathon said in its earnings report that its second-quarter sales were hit by some operational challenges that hampered its ability to mine Bitcoin and the recent halving put pressure on the mining industry. Marathon Digitals second-quarter adjusted EBITDA turned from $35.8 million in the previous year to a loss of $85.1 million, mainly due to fair value adjustments of its digital assets and a decrease in the number of BTC mined in the quarter. The miner currently holds more than 20,000 BTC on its balance sheet. Marathon Digital (MARA) shares fell 8% after hours on Thursday, trading at about $18.14.