Marathon Digital announced in its Q2 financial report that it sold more than 50% of the BTC it issued to cover operational costs. 🚨
- Shares fell 7%
- Revenue was below expectations
- 2,058 BTC produced, 30% decrease
- Net loss: $200 million
CEO Fred Thiel blamed equipment malfunctions and maintenance problems. The company targets 50 exahash by the end of 2024.