EXCLUSIVE: Bit Digital CEO Says 'BTBT's direct production cost per BTC was around $15K for 2023, so we still will be able to earn an attractive mining margin following the halving at current BTC prices'
Portfolio Pulse from Benzinga Newsdesk
Bit Digital's CEO revealed that the company's direct production cost per Bitcoin (BTC) was approximately $15,000 for 2023. Despite the upcoming halving event, which will reduce the reward for mining new blocks, the company expects to maintain an attractive mining margin at the current BTC prices.
April 10, 2024 | 1:48 pm
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Bit Digital's direct production cost per Bitcoin is $15,000 for 2023, indicating profitability at current BTC prices even after the halving event.
The CEO's statement highlights Bit Digital's efficient mining operations and its ability to remain profitable despite the upcoming halving event. This efficiency, coupled with the current Bitcoin prices, suggests a positive outlook for the company's mining margins, likely leading to a positive short-term impact on BTBT's stock price.
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IMPORTANCE 90
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