Bit Digital, Inc. Announces In February 2024, The Company Produced 128.7 BTC, An 11.7% Decrease Compared To The Prior Month
Portfolio Pulse from Benzinga Newsdesk
Bit Digital, Inc. (NASDAQ:BTBT) reported a decrease in BTC production by 11.7% in February 2024, producing 128.7 BTC. The company's active hash rate was 2.73 EH/s, with treasury holdings of BTC and ETH valued at approximately $104 million. Cash and equivalents stood at $34.3 million. Bit Digital also highlighted its Proof-of-Stake activities, with 12,784 ETH staked, earning a 4.4% APY and 43.4 ETH in rewards. Additionally, the company's AI division generated $4.0 million in revenue from 251 servers.
March 05, 2024 | 9:32 pm
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Bit Digital reported a decrease in BTC production and detailed its financial and operational performance for February 2024, including significant activities in crypto holdings and AI.
The decrease in BTC production might concern investors, but the company's diversified activities in ETH staking and AI revenue generation could offset negative impacts. The detailed financial and operational update provides a mixed view, suggesting a neutral short-term impact on the stock price.
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