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Live Trading News > Blog > Crypto > Bitcoin > Bit Digital, Inc. (Nasdaq:BTBT) Update
Bitcoin

Bit Digital, Inc. (Nasdaq:BTBT) Update

Shayne Heffernan Ph.D.
Last updated: January 6, 2023 10:26 am
Shayne Heffernan Ph.D.
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Bit Digital, Inc. (Nasdaq:BTBT) (“Bit Digital” or the “Company”), a digital asset mining company headquartered in New York, announced its unaudited bitcoin production and corporate updates for the month of December 2022.

Corporate Highlights for December 2022

  • In December 2022, the Company earned 130.0 bitcoins, a 10% decrease compared to the prior month. The decline in production was primarily driven by planned curtailment activities at certain hosting locations.
  • Treasury holdings of BTC and ETH were 946.6 and 8,799.9 with a fair market value of approximately $15.7 million and $10.5 million, respectively, on December 31, 2022.
  • The BTC equivalent[1] of our digital asset holdings as of December 31, 2022 (defined as if all ETH, sETH-H, and USDC holdings were converted into BTC as of that date and added to our BTC holdings) was approximately 1,765.8.
  • The Company had cash and cash equivalents of $32.7 million as of December 31, 2022.
  • The Company owned 38,593 bitcoin miners and 730 Ethereum miners as of December 31, 2022, with an estimated maximum total hash rate of 2.7 Exahash (“EH/s”) and 0.3 Terahash (“TH/s), respectively.

Miner Deployments

35% of the Company’s bitcoin mining fleet, or 13,595 bitcoin miners representing 1.23 EH/s, was actively hashing in North America as of December 31, 2022.

About Bit Digital

Bit Digital, Inc. is a bitcoin mining company headquartered in New York City. Our mining operations are located in North America. For additional information, please contact [email protected] or visit our website at www.bit-digital.com.

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By Shayne Heffernan Ph.D.
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Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
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