According to Foresight News, Marathon Digital, a Bitcoin mining company, has failed to meet its first-quarter revenue expectations due to operational challenges. In the first three months of this year, the company only mined 2,811 Bitcoins, a 34% decrease from the previous quarter.
In after-hours trading on Thursday, its stock price fell by approximately 1.5%, and the cumulative decline in its stock price this year has reached 26%. Meanwhile, the stock price of its peer, Riot Platforms, has fallen by 40%. This indicates a challenging environment for Bitcoin mining companies, with operational difficulties impacting both revenue and stock performance.