📉 Marathon Digital, a Bitcoin mining giant, didn't quite hit the mark in Q1 2024, falling 14.8% short of Wall Street's revenue expectations. Blame it on the weather and some pesky equipment malfunctions. 🌩️💻

📊 Despite the setbacks, they still managed to grow their revenue by 223% YoY to $165.2M. They mined 2,811 BTC, valued at $176.7M, a 28% increase from last year. But it's a 34% drop from Q4 2023.

🔧 CEO Fred Thiel is optimistic, though. He said they've adapted and overcome these challenges, redistributing equipment to new sites and introducing advanced products like Slipstream and the MARA UBC 2100 control board.

💪 They're operating at a "record high" of 27 exahashes per second and aim to hit 50 EH/s by year-end. Marathon's mining capacity has expanded to 1.1 and currently operates at 54% of its total capacity.

💰 Q1 earnings per share were $1.26, way above Wall Street's projected $0.02. But don't get too excited - the company has adopted new FASB fair value accounting rules, so it's not a direct comparison.

📉 After the report, Marathon's shares dropped 2.19% to close at $19.65, with a further 1% decrease in after-hours trading.

What do you think about Marathon's performance? Let's chat in the comments! 🗨️ #BitcoinMining #MarathonDigital