Summary
TLDR: Bitcoin miner Marathon Digital saw a surge in stock price after revealing a $151.8 million profit in Q4. CEO outlines plans for Bitcoin halving, aiming to increase mining hash rate. Miners prepare for upcoming halving by stocking up on equipment. Marathon mines more BTC daily than Riot but at a higher cost. Riot’s location in Texas allows for flexibility in selling power to the grid. Both companies optimistic about future profitability.
Key Points
1. Marathon Digital reported an annual profit of $151.8 million in Q4 last year, leading to a surge in its stock price on February 28.
2. The company’s revenue increased by roughly 452% from $28.4 million to $156.8 million in the same period.
3. Marathon Digital’s CEO, Fred Thiel, outlined plans to expand the company’s Bitcoin mining hash rate to 50 exahashes per second by the end of the year.