Bit Digital Produced 60.5 BTC In July 2024; Active Hash Rate Was ~2.46 EH/s As Of July 31, 2024
Portfolio Pulse from Benzinga Newsdesk
Bit Digital, Inc. (NASDAQ:BTBT) reported its digital asset production and corporate updates for July 2024. The company produced 60.5 BTC, a slight decrease from the previous month, and had an active hash rate of 2.46 EH/s. Bit Digital earned $4.3 million in revenue from its AI contract and held significant BTC and ETH reserves. The company also had substantial liquidity and earned staking rewards from its ETH holdings.
August 06, 2024 | 9:24 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bit Digital produced 60.5 BTC in July 2024, a slight decrease from the previous month, and had an active hash rate of 2.46 EH/s. The company earned $4.3 million from its AI contract and held significant BTC and ETH reserves.
The production of BTC and the revenue from the AI contract are positive indicators for Bit Digital's financial health. The slight decrease in BTC production is offset by the strong revenue and significant digital asset holdings, suggesting a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100