Analysts forecast Marathon Digital’s revenue to triple

FactSet, the analytics firm, projected Marathon Digital’s fourth-quarter 2022 revenue at $38.4 million, according to The Block.

Analysts say the figure could be three times higher than in the third quarter, but still below the same period last year ($60.3 million).

Marathon’s net loss was $24 million, compared with $75.4 million in the prior quarter, analysts noted.

The company postponed the publication of its financial data, originally planned for February 28, to a later date, due to an incorrect impairment calculation of its digital assets and income from the Bitcoin mining pool since late 2021.

In January 2023, Marathon Digital sold 1,500 BTC to cover part of its costs.