Bitcoin ‘Halving' Will Deal a $10 Billion Blow to Crypto Miners [BNN Bloomberg (Canada)]
Marathon Digital Holdings, Inc. (MARA)
Last marathon digital holdings, inc. earnings: 8/14 04:00 pm
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Source: BNN Bloomberg
This time around, it's also set to trigger multibillion-dollar declines in revenue for the very companies that ensure the digital currency's smooth functioning, right on the heels of a surge in their biggest costs. Around April 20, the halving will cut the amount of Bitcoin that “miners” can earn each day for validating transactions to 450 from 900 now. Based on Bitcoin's current price, it could spell revenue losses of around $10 billion a year for the industry as a whole. Marathon Digital Holdings Inc., CleanSpark Inc. and other miners, which compete for a fixed Bitcoin reward by solving mathematical puzzles using superfast computers, have invested in new equipment and sought to buy smaller rivals in an attempt to cushion the drop-off in revenue. “This is the final push for miners to squeeze out as much revenue as they can before their production takes a big hit,” said Matthew Kimmell, a digital asset analyst at CoinShares. “With revenues across the board decreasing overnight, t
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MARA
News
- Vistra Set to Join S&P 500; Aaon to Join S&P MidCap 400; Marathon Digital Holdings to Join S&P SmallCap 600PR Newswire
- Why Bitcoin Miners Cratered This Week [Yahoo! Finance]Yahoo! Finance
- Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for April 2024 [Yahoo! Finance]Yahoo! Finance
- Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for April 2024GlobeNewswire
- Bitcoin Miner Stronghold Looking at Options, Including Sale of Company [Yahoo! Finance]Yahoo! Finance
MARA
Earnings
- 2/28/24 - Beat
MARA
Sec Filings
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form DEF
- 4/5/24 - Form 8-K
- MARA's page on the SEC website