Could Bit Digital Become the Next Marathon Digital?

Marathon Digital transformed from a tiny patent holding company into the world's largest publicly traded Bitcoin miner over the past six years. It was mining an average of 19.7 Bitcoins per day at the end of June with an operational hash rate of 26.3 exahashes per second (EH/s). Its closest competitor, Riot Platforms, only mined an average of 8.5 Bitcoins per day in June, with an operational hash rate of 11.4 EH/s.From 2023 to 2026, analysts expect Marathon's revenue to grow at a compound annual growth rate (CAGR) of 37% as it opens more mining facilities and acquires its smaller competitors. They expect its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to rise at a CAGR of 5% -- even as energy costs rise and Bitcoin's recent halving reduces the rewards for mining the world's top cryptocurrency.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool