By Josh Beckerman


Marathon Digital Holdings Inc. will restate certain results due to accounting errors and canceled its fourth-quarter earnings report scheduled for Tuesday.

The bitcoin-mining company's shares rose 6%, to $7.57.

On Feb. 22, Marathon received a comment letter from the Corporation Finance Staff of the U.S. Securities and Exchange Commission relating to issues including accounting matters.

The audit committee of Marathon's board concluded that audited financial statements in its Form 10-K for 2021 and unaudited statements for interim periods in several quarterly reports should no longer be relied upon.

Restatement issues include impairment of digital assets and operation of a bitcoin-mining pool that included third-party participants.


Write to Josh Beckerman at josh.beckerman@wsj.com


(END) Dow Jones Newswires

02-28-23 1437ET