According to CryptoPotato, Bitcoin mining company Marathon Digital reported revenue that fell short of Wall Street analysts' expectations in its first quarter 2024 report. The company attributed the poor performance to adverse weather conditions and equipment failures. Although the company's year-on-year revenue grew 223% to $165.2 million, it was still 14.80% lower than the $193.9 million expected by investment analysis firm Zacks. Marathon Digital mined 2,811 bitcoins worth $176.7 million in the first quarter of 2024, up 28% from the previous year. However, this was down 34% from the 4,242 bitcoins mined in the fourth quarter of 2023. Despite these challenges, the company's operating speed reached a "record" 27 EH/s. Marathon Digital also launched several new advanced products during the quarter, including Slipstream, which is designed to increase Bitcoin transaction speeds, and the MARA UBC 2100 control board, which is designed to improve mining efficiency. Through strategic acquisitions, Marathon has expanded its mining capacity to 1.1 EH/s, and currently operates at 54% of its total capacity. Nonetheless, Marathon Digital's stock price fell about 2.19% following the report, closing at $19.65, and fell an additional 1% in after-hours trading.