Nasdaq-listed mining company Marathon Digital Holdings has disclosed its Q2 2021 financials. In three months, its revenue grew by 220% - to $ 29.3 million.
In the reporting period, the company mined 654 BTC, and since the beginning of the year - 846 BTC. The company's wallets hold 5,784 BTC, the value of which was estimated by Marathon at $ 201.6 million.
The total number of ASIC devices deployed by the company has reached 19 395. Their total computing power is 2.09 EH / s.
In three months, non-GAAP operating income was $ 20.1 million, or $ 0.21 per share. The indicator does not take into account the wear and tear of equipment, losses from a decrease in the price of the mined cryptocurrency, and contracts for server maintenance.
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The change in the fair value of the company's investment fund, which in January 2021 acquired 4,812 BTC for about $ 150 million, was also excluded from the calculations. In the first half of the year, the value of its assets increased by $ 16.9 million, while in the second quarter it decreased by $ 114.9 million.
As of July 30, cash and cash equivalents on the company's balance sheet amounted to $ 170.6 million. Total liquidity, which Marathon defines as cash and cryptocurrency reserves, rose to $ 366.5 million.
Marathon shares reacted with growth to the publication of the report. The stock closed the trading session on Aug. 12 with a 3.81% decline, but at the time of writing, it is trading near $ 35.5 (+ 6%).