Marathon Digital Ramps Up Mining Capacity - Is A Turnaround in the Making?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 10 2024
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Source: Coinmarketcap
- B. Riley Securities Downgrade: B. Riley Securities downgraded Marathon Digital's target to $18 due to Q1 misses and high operational costs.
- Marathon Digital Adjustments: Marathon Digital adjusted EBITDA projections downward amid operational challenges, causing shares to dip by 8.55%.
- Analyst Recommendations: Analysts from B. Riley Securities and Needham provided insights on Marathon Digital Holdings Inc., with varying recommendations.
- Financial Performance: Marathon Digital reported a first-quarter miss in revenue and adjusted EBITDA, attributing it to operational issues and increased costs.
- Future Projections: Analysts updated their estimates for Marathon Digital's future performance, considering factors like hash rate increases and cost improvements.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
