Bitcoin Miner Marathon Digital Misses Q1 Revenue Expectation On Operational Challenges

Marathon Digital, a major bitcoin mining company, missed its Q1 revenue expectations due to several operational issues, including equipment failures and weather-related disruptions. The company mined 2,811 bitcoins, a 34% decrease from the previous quarter. Despite these challenges, Marathon still aims to increase its capacity to 50 exahash per second by 2024. Following the news, its stock price fell by approximately 1.5% in after-hours trading.