Bit Digital Monthly Production Insights and Future Plans

Monthly Production Update from Bit Digital

Bit Digital, Inc. (NASDAQ: BTBT), a leading company focused on digital assets and artificial intelligence (AI) infrastructure, recently shared its production insights reflecting its ongoing success and operations. The company's emphasis on sustainability in the digital asset sector showcases its commitment to responsible mining practices and technological advancement.

Corporate Highlights

As of the end of last month, Bit Digital reported that it had 256 servers generating revenue from its initial AI contract. This initiative alone generated an estimated $4.3 million in revenue, illustrating significant growth. Additionally, a service credit of $579k was issued to clients for the downtime experienced during recent equipment upgrades, demonstrating the company’s commitment to client satisfaction and transparency.

Bitcoin and Revenue Statistics

In terms of production, the company successfully mined 53.4 BTC in August, marking an 11.7% decrease from the previous month. The active hash rate stood at approximately 2.43 EH/s. On August 31, Bit Digital’s treasury held 682.4 BTC and 27,331.0 ETH, with a fair market value estimated at $40.2 million for BTC and about $68.7 million for ETH. This reflects a robust digital asset portfolio.

Digital Asset Holdings

The BTC equivalent of Bit Digital's holdings reached approximately $109.6 million, showing strong asset management. The total liquidity, including cash and equivalent assets, was about $216.5 million. This solid financial position allows the company to pursue further investments and expansions strategically.

Staking Achievements

Beyond mining, Bit Digital also made notable strides in its staking operations. Approximately 21,568 ETH were actively staked in native protocols, earning a blended annual percentage yield (APY) of around 3.1%. In August, the company accumulated approximately 56.6 ETH in staking rewards, reflecting its successful engagement in multiple facets of the digital asset market.

Upcoming Events and Conferences

Looking ahead, Bit Digital plans to participate in several key events, including the Annual Gateway Conference and H.C. Wainwright's 26th Annual Global Investment Conference. These events will allow the company to connect with investors and industry leaders, discuss its strategies, and highlight its innovative approaches to digital asset management.

About Bit Digital

Established with a clear vision, Bit Digital, Inc. operates across the US, Canada, and Iceland with a focus on sustainable bitcoin mining. It is actively enhancing its services, particularly through Bit Digital AI, which aims to provide specialized cloud infrastructure tailored for AI applications. For further inquiries, potential investors and interested parties can reach the company at ir@bit-digital.com or visit their website at www.bit-digital.com.

Frequently Asked Questions

What is Bit Digital's core business focus?

Bit Digital primarily focuses on sustainable digital asset mining and artificial intelligence infrastructure, ensuring responsible practices in the industry.

How much revenue did Bit Digital generate in August?

The company generated approximately $4.3 million in revenue from its initial AI contract in August.

What are Bit Digital's plans for upcoming events?

Bit Digital plans to participate in major financial conferences to discuss its strategies and connect with investors and industry leaders.

What digital assets does Bit Digital hold?

As of the end of August, Bit Digital held around 682.4 BTC and 27,331.0 ETH, signifying a strong portfolio in the digital asset realm.

What staking achievements did Bit Digital achieve recently?

In August, the company staked approximately 21,568 ETH, earning a blended APY of around 3.1% and accumulating 56.6 ETH in staking rewards.

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