In the recent earnings call, Marathon Digital posted negative results, reporting an impairment of $127.6 million due to the fall in bitcoin prices.
Marathon Digital, one of the biggest mining companies in the Bitcoin ecosystem, has posted its financial results corresponding to the second quarter of the year. The company revealed that even having increased its production by 8% when compared to Q2 2021, it recorded an impairment of $127.6 million on bitcoin holdings due to the fall of bitcoin prices in this period.Marathon Digital, one of the biggest public Bitcoin mining companies, has released its financial results from the Q2 2022 period.
6 million due to the fall in bitcoin prices. However, the company produced 707 bitcoin during the period, a number that is 8% higher than what the company produced during last year’s Q2.However, these 707 bitcoin produced constitute a fall of 44% when compared to the 1,259 bitcoin produced by the company in the prior quarter.