Mining company Marathon's second-quarter revenue was $145.1 million, below expectations

ChainCatcher news, according to FactSet data, Bitcoin mining company Marathon Digital Holdings reported revenue of $145.1 million in the second quarter, falling short of Wall Street's expectation of $157.9 million.

In its earnings report, Marathon stated that its sales in the second quarter were impacted by operational challenges that hindered its ability to mine Bitcoin, as well as recent halving pressures on the mining industry.

Marathon Digital's adjusted EBITDA for the second quarter turned from a profit of $35.8 million last year to a loss of $85.1 million, primarily due to fair value adjustments of its digital assets and a decrease in the amount of BTC mined during the quarter. The miner currently holds over 20,000 BTC on its balance sheet.

Marathon Digital (MARA) shares fell as much as 8% in after-hours trading on Thursday, with a trading price of approximately $18.14.