Marathon Digital Reports $200 Million Loss in Q2 Amid Operational Challenges

Bitcoin miner Marathon Digital cites halving event and equipment failures for decreased production and missed revenue targets.

Marathon Digital faced a $199 million net loss in Q2, significantly higher than the $9 million loss a year earlier.
Revenue increased 78% year-over-year to $145 million, but still fell short of Wall Street's $157.9 million estimate.
Bitcoin production dropped 30% to 2,058 BTC due to equipment failures and increased global hash rates.
Despite setbacks, Marathon achieved a record-high hash rate of 31.5 exahash per second and holds over 20,000 BTC.
Shares of Marathon Digital fell 7.8% following the earnings report, reflecting broader market concerns.