MARA Holdings Q3 Loss Widens, Revenue Increases; Shares Fall 8% After Hours.

Q3 GAAP EPS of -$0.42, vs. the -$0.35 average analyst estimate, narrowed from -$0.72 in Q2 and widened from -$0.34 in the year-earlier quarter.

Revenue of $131.7M, vs. falling short of the $144.4M consensus, retreated from $145.1M in the prior quarter and rose from $97.9M a year before.

The miner said it's on track to achieve its 50 exahash goal for this year, and expects to get there by mid- to late December.

At the end of the quarter, MARA (NASDAQ:MARA) held 26,747 bitcoin (BTC-USD) in its balance sheet. During the three-month period, the miner generated 2,070 BTC and purchased 6,210 BTC, of which 4,144 were acquired using proceeds from a $300M offering of convertible senior notes at an average price of $59,500 per BTC.

Energized hash rate climbed to 36.9 exahashes per second (EH/s) from 31.5 EH/s in Q2 and 19.1 EH/s in Q3 2023.

Adjusted EBITDA was $21.8M, up from -$85.1M in Q2 and -$21.3M in Q3 2023.