PANews reported on November 13 that according to The Block, Bitcoin mining company MARA Holdings (formerly known as Marathon Digital) released its third-quarter financial report on Tuesday afternoon. The company's third-quarter loss was $0.34 per share, which was in line with market expectations according to MarketWatch data. Sales in the third quarter were $131.6 million, lower than the expected $151.6 million, an improvement from the net loss of $199.7 million in the second quarter.
As of October 31, MARA held 26,747 BTC on its balance sheet. In Q3, it produced 2,070 BTC and purchased 6,210 BTC, of which 4,144 were purchased using proceeds from the issuance of $300 million convertible senior notes at an average price of $59,500.
Last week, MARA said it produced 717 BTC in October, up 2% from the previous month, and that month’s hashrate rose to 40.2 EH/s. On Monday, the company announced it had acquired two power plants in Ohio with a total capacity of 222 megawatts at a price of $270 per kilowatt.
