Bitcoin miner Marathon Digital reported second-quarter adjusted earnings that beat analysts’ consensus estimates, but fell short on revenues.  

• Shares were rising 4.4% in pre-market trading Friday to $35.34. They are up more than 200% this year.
• The miner reported adjusted earnings per share of $0.21, ahead of analyst estimates of $0.16, according to FactSet.
• Its adjusted earnings excluded the impact of depreciation and amortization of fixed assets, impairment losses on mined cryptocurrency, server maintenance contract amortization and stock compensation expense.
• Revenues came in at $29.3 million, short of estimates for $34.4 million. Total revenue increased 220% from $9.2 million in the first quarter of 2021 and grew 10,147% increase year-over-year from $286,000 in the second quarter of 2020.
• The company also said it produced 654 newly minted bitcoins in the second quarter, bringing the total of new bitcoins mined for the first half of 2021 to 846.
• Its investment fund, which purchased 4,812.66 BTC for approximately $150 million in January 2021, increased in fair value by $16.9 million during the first six months of 2021