# Bit Digital, Inc. (Nasdaq:BTBT) Update

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Last modified: 2023-01-06

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By Shayne Heffernan · 2023-01-06
Tags: Stocks, Crypto, Bitcoin, Todays Trade Ideas
Signed: no (published before platform launch).
Nothing in this article is investment advice.

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 [ir@bit-digital.com](mailto:ir@bit-digital.com) or visit our website at [www.bit-digital.com](http://www.bit-digital.com/).

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