impairment charges

According to reports, Marathon Digital, a Bitcoin mining company, released financial reports for the fourth quarter and full year of 2022. As of December 31, 2022, it had a net loss of $686.7 million for the full year of 2022, compared with a net loss of $37.1 million for the full year of 2021. Compared to 2021, Marathon Digital’s fourth quarter impairment charges related to the book value of mining equipment and supplier advances in 2022 were $332.9 million; The book value of digital assets, including impairment and realized and unrealized losses, decreased by $317.6 million. Marathon Digital produced 1562 Bitcoins in the fourth quarter of 2022, and the annual Bitcoin production increased from 3197 BTC in 2021 to 4144 BTC in 2022. Marathon Digital reported a net loss of $686.7 million in 2022 Analysis based on this information:Marathon Digital, a company specializing in Bitcoin mining, has reported its financial results for the fourth quarter and full year of 2022….

It is reported that Iris Energy, a Bitcoin miner, reported a quarterly net loss of $144 million and revenue of $13.8 million as of December last year. The loss…