TechFlow news, November 13 — According to The Block, bitcoin miner MARA Holdings (formerly Marathon Digital) released its third-quarter financial results on Tuesday afternoon.
The largest publicly traded crypto mining company by market capitalization ($7.4 billion) reported a quarterly loss of $0.34 per share, in line with consensus estimates according to MarketWatch. Third-quarter revenue came in at $131.6 million, below the expected $151.6 million, but showed improvement compared to a net loss of $199.7 million in the second quarter.
As of October 31, MARA held 26,747 BTC on its balance sheet. During Q3, it produced 2,070 BTC and purchased 6,210 BTC, of which 4,144 BTC were acquired using proceeds from the issuance of $300 million in convertible preferred notes at an average price of $59,500 per BTC.
Last week, MARA reported producing 717 BTC in October, a 2% increase month-over-month, with its hashrate rising to 40.2 EH/s. On Monday, the company announced the acquisition of two power plants in Ohio with a combined capacity of 222 megawatts at a price of $270 per kilowatt.
