MARA Holdings Inc - MARA STOCK NEWS

Marathon Digital Holdings reported a remarkable financial performance for Q2 2021, with revenues soaring by 220% quarter-over-quarter to $29.3 million, and a staggering 10,147% increase year-over-year. The company produced 654 bitcoins in the quarter, accumulating 1,441 bitcoins year-to-date. Non-GAAP income from operations stood at $20.1 million, translating to $0.21 per diluted share. However, a net loss of $108.9 million was recorded due to declines in the fair market value of its bitcoin holdings. The company remains optimistic about future growth as it enhances its mining capacity and operations.

Marathon Digital Holdings (NASDAQ: MARA) has appointed Sarita James and Said Ouissal to its board of directors, expanding the board to seven members, including five independents. CEO Fred Thiel emphasized the importance of diverse leadership as the Bitcoin landscape evolves. James, with a background in technology and finance, and Ouissal, an expert in telecommunications and cloud sectors, are expected to provide valuable insights as Marathon accelerates its mining operations.

Marathon Digital Holdings reported a significant increase in bitcoin production, achieving 442.2 BTC in July 2021, a 66% month-over-month growth. This brings the company's total bitcoin holdings to approximately 6,225.6 BTC, valued at around $260.7 million. The company also holds $91.9 million in cash, totaling $352.6 million in liquidity. Marathon has received 19,401 S19 Pro miners in 2021 and announced the purchase of an additional 30,000 miners expected to enhance production to approximately 13.3 EH/s.

Marathon Digital Holdings (NASDAQ: MARA) announced a contract to acquire 30,000 Antminer S19j Pro miners for $120.7 million, increasing its total mining operations to approximately 133,000 miners. This will enable a hash rate of around 13.3 EH/s, representing 12% of the Bitcoin network's total hash rate. The new miners are expected to ship between January and June 2022. CEO Fred Thiel emphasized that this expansion positions Marathon as one of the largest Bitcoin miners globally, capitalizing on favorable market conditions.

Marathon Digital Holdings (NASDAQ: MARA) will participate in the Mining Disrupt Conference in Miami on July 20-21, 2021. Marathon's CEO, Fred Thiel, will present on the topic of mining strategies on July 21 at 10:50 a.m. Eastern time. He will also take part in panels discussing miners' councils and other industry topics. The conference aims to unite innovators in blockchain technology. Interested attendees can register for the event through the provided link.

Marathon Digital Holdings (MARA) has appointed Charlie Schumacher as the new director of corporate communications, reporting directly to CEO Fred Thiel. Schumacher, who has been with the company since September 2020, brings extensive experience in corporate storytelling and capital markets, particularly in the crypto sector. His role will encompass investor relations and public relations as the company aims to bolster its position amid increasing institutional adoption of Bitcoin. This strategic move aligns with Marathon's objective to enhance communications and manage stakeholder engagement effectively.

Marathon Digital Holdings (NASDAQ: MARA) reported an increase in total bitcoin holdings to approximately 5,784 BTC with a fair market value of about $201.6 million as of July 1, 2021. The company produced 265.6 BTC in June, marking a 17% month-over-month increase. Cash on hand is approximately $170.6 million, totaling liquidity of around $372.2 million. Marathon's mining fleet grew to 19,395 miners, achieving a hash rate of 2.09 EH/s. The firm also completed construction of mining containers in Hardin, MT, and anticipates future miner deliveries.

Marathon Digital Holdings (MARA) has announced its inclusion in the Russell 2000 Index, effective June 28, 2021. This membership is based on its ranking within the Russell 3000 Index, which is widely used with approximately $10.6 trillion in assets benchmarked against Russell’s indexes. The CEO, Fred Thiel, emphasized that this addition reflects Marathon's significant progress over the past year and is expected to enhance visibility among investors, benefiting both new and existing shareholders.

Marathon Digital Holdings (MARA) announced a significant increase in its bitcoin production and hashrate as of June 1, 2021. In May, the company produced 226.6 BTC, raising total holdings to approximately 5,518 BTC valued at $203.4 million. Marathon's cash on hand is $191.8 million, with total liquidity reaching $395.1 million. The company has increased its mining fleet to 17,655 miners, generating 1.9 EH/s. Additionally, Marathon is set to fully install its mining fleet by Q1 2022, targeting a hashrate of 10.37 EH/s.