Marathon Digital Holdings posts $1.71 billion net loss in Q4 on Bitcoin plunge

Source

Uk Jin

Summary

Marathon Digital Holdings said it posted a $1.71 billion net loss in the fourth quarter of last year.
Fourth-quarter revenue was $202.30 million, easing slightly from a year earlier.
The company said a total $1.5 billion decline in the value of held digital assets, including Bitcoin (BTC), was the main driver of the net loss.

Forecast Trend Report by Period

U.S. Bitcoin (BTC) miner Marathon Digital Holdings recorded a large net loss in the fourth quarter of last year.

According to Cointelegraph, a digital-asset news outlet, on the 27th (KST), the company reported in a shareholder letter filed with the U.S. Securities and Exchange Commission (SEC) that it posted a net loss of $1.71 billion in Q4. That marked a sharp swing from a net profit of $528.30 million a year earlier.

Fourth-quarter revenue came in at $202.30 million, down slightly from the prior-year period.

A decline in the value of the digital assets held by the company was cited as the main driver of the quarterly net loss. Marathon said the value of assets including Bitcoin (BTC) fell by a total of $1.5 billion.

BTC