Marathon Digital Q1 earnings beat as fair-value accounting rules pay off

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Marathon Digital Holdings (NASDAQ:MARA) posted on Thursday Q1 earnings that easily topped Wall Street expectations and rose markedly both sequentially and from a year ago, thanks to favorable mark-to-market adjustment of digital assets from the newly adopted fair-value accounting rules.

The bitcoin (BTC-USD) miner raised its 2024 hash rate target to 50 exahashes per second (EH/s), representing about 100% growth in hash rate during the year. It previously expected its hash rate to rose to 35-37 EH/s in 2024.



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