Bit Digital, Inc. Announces Monthly Production Update for April 2024; Produced 119.3 BTC, A 12.5% Decrease Compared To The Prior Month
Portfolio Pulse from Benzinga Newsdesk
Bit Digital, Inc. (NASDAQ:BTBT) reported a 12.5% decrease in BTC production for April 2024, producing 119.3 BTC due to reduced bitcoin block rewards post-halving. The company's active hash rate was 2.76 EH/s, with treasury holdings of BTC and ETH valued at approximately $121.9 million. Cash and equivalents stood at $43.7 million. Bit Digital's AI segment generated $4.1 million in revenue from 251 servers. Additionally, the company had 17,184 ETH staked, earning a 1.0% APY and 13.9 ETH in staking rewards for April.
May 06, 2024 | 8:01 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Bit Digital reported a decrease in BTC production and detailed its financial and operational status for April 2024, including AI revenue and ETH staking.
The decrease in BTC production might concern investors, but the company's substantial digital asset holdings and diversification into AI and ETH staking could mitigate negative impacts. The overall financial health appears stable, suggesting a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100