NEW YORK, Oct. 4, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Firm”), a sustainable platform for digital property and synthetic intelligence (“AI”) infrastructure headquartered in New York, introduced its unaudited digital asset manufacturing, HPC companies income, and company updates for the month of September 2024.
Company Highlights for September 2024
- The Firm had 256 servers actively producing income from its preliminary Bit Digital AI contract, as of September 30, 2024. The Firm earned roughly $4.2 million of unaudited income from this contract in the course of the month of September 2024.
- In September 2024, the Firm produced 51.5 BTC, a 3.6% lower in comparison with the prior month.
- The Firm’s lively hash price was roughly 2.43 EH/s as of September 30, 2024.
- Treasury holdings of BTC and ETH had been 731.3 and 27,388.9 with a good market worth of roughly $46.3 million and $71.3 million, respectively, on September 30, 2024.
- The BTC equal[1] of our digital asset holdings as of September 30, 2024, was roughly 1,863.0 or roughly $118.0 million.
- The Firm had money and money equivalents of $104.0 million and complete liquidity (outlined as money and money equivalents, USDC, and the honest market worth of digital property) of roughly $222.0 million, as of September 30, 2024.
Proof-of-Stake Highlights
- The Firm had roughly 21,568 ETH actively staked in native staking protocols as of September 30, 2024.
- Bit Digital earned a blended APY of roughly 3.3% on its staked ETH place for the month of September 2024.
- The Firm earned combination staking rewards of roughly 57.9 ETH throughout September 2024.
Upcoming Occasions
- AIM Summit Dubai Convention, Dubai, United Arab Emirates on October 21-22
About Bit Digital
Bit Digital, Inc. is a sustainable platform for digital property and synthetic intelligence (“AI”) infrastructure headquartered in New York Metropolis. Our bitcoin mining operations are positioned within the US, Canada, and Iceland. The Firm has established a enterprise line, Bit Digital AI, that provides specialised cloud-infrastructure companies for synthetic intelligence functions. For added info, please contact ir@bit-digital.com or go to our web site at www.bit-digital.com.
Investor Discover
Investing in our securities entails a excessive diploma of danger. Earlier than investing resolution, it is best to rigorously contemplate the dangers, uncertainties and forward-looking statements described beneath “Threat Components” in Merchandise 3.D of our most up-to-date Annual Report on Kind 20-F for the fiscal yr ended December 31, 2023. If any materials danger was to happen, our enterprise, monetary situation or outcomes of operations would doubtless endure. In that occasion, the worth of our securities might decline and you may lose half or your entire funding. The dangers and uncertainties we describe aren’t the one ones dealing with us. Extra dangers not presently identified to us or that we at present deem immaterial can also impair our enterprise operations. As well as, our previous monetary efficiency is probably not a dependable indicator of future efficiency, and historic developments shouldn’t be used to anticipate outcomes sooner or later. Future modifications within the network-wide mining problem price or bitcoin hash price can also materially have an effect on the long run efficiency of Bit Digital’s manufacturing of bitcoin. Precise working outcomes will fluctuate relying on many components together with community problem price, complete hash price of the community, the operations of our services, the standing of our miners, and different components.
Protected Harbor Assertion
This press launch might comprise sure “forward-looking statements” regarding the enterprise of Bit Digital, Inc., and its subsidiary firms. All statements, apart from statements of historic reality included herein are “forward-looking statements.” These forward-looking statements are sometimes recognized by way of forward-looking terminology equivalent to “believes,” “expects,” or comparable expressions, involving identified and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are affordable, they do contain assumptions, dangers and uncertainties, and these expectations might show to be incorrect. Traders shouldn’t place undue reliance on these forward-looking statements, which converse solely as of the date of this press launch. The Firm’s precise outcomes might differ materially from these anticipated in these forward-looking statements because of quite a lot of components, together with these mentioned within the Firm’s periodic reviews which can be filed with the Securities and Alternate Fee and out there on its web site at http://www.sec.gov. All forward-looking statements attributable to the Firm or individuals performing on its behalf are expressly certified of their entirety by these components. Apart from as required beneath the securities legal guidelines, the Firm doesn’t assume an obligation to replace these forward-looking statements.
[1] “BTC equal” is a hypothetical illustration of the worth of our digital asset treasury holdings in bitcoin phrases. BTC equal is outlined as if all non-BTC digital property, comprised of ETH, and USDC, had been transformed into BTC as of September 30, 2024, and added to our present BTC stability. Conversion values are discovered utilizing the closing worth on coinmarketcap.com. Our digital asset portfolio excludes digital property invested in a third-party managed fund.
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SOURCE Bit Digital, Inc.
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