Bit Digital Says Produced 142.7 BTC In November 2023, Up 24% Compared To Prior Month
Portfolio Pulse from Benzinga Newsdesk
Bit Digital reported a 24% increase in Bitcoin production in November 2023, producing 142.7 BTC. The company's active hash rate was around 2.25 EH/s as of November 30, 2023. Additionally, Bit Digital received an initial prepayment from its first customer for its Bit Digital AI business, with expected revenue of $35-37 million from the contract in 2024.
December 05, 2023 | 11:01 pm
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POSITIVE IMPACT
Bit Digital's increased Bitcoin production and the initiation of its AI business with a significant expected revenue stream in 2024 could positively influence investor sentiment.
The reported increase in Bitcoin production indicates operational efficiency and growth, which is typically viewed positively by investors. The prepayment from the first AI business customer and the anticipated revenue from this new venture suggest diversification and an additional income stream, which could further bolster the stock's appeal in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100