Bit Digital Announces It Produced 51.5 BTC, A 3.6% Decrease MoM; Earned ~$4.2M Of Unaudited Revenue From This Contract During The Month Of September 2024
Portfolio Pulse from Benzinga Newsdesk
Bit Digital, Inc. (NASDAQ:BTBT) reported a 3.6% decrease in Bitcoin production for September 2024, producing 51.5 BTC. The company earned approximately $4.2 million in unaudited revenue from its AI contract. Bit Digital's treasury holdings include 731.3 BTC and 27,388.9 ETH, with a total liquidity of $222 million.
October 04, 2024 | 8:34 pm
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NEUTRAL IMPACT
Bit Digital reported a 3.6% decrease in Bitcoin production for September 2024, producing 51.5 BTC. The company earned approximately $4.2 million in unaudited revenue from its AI contract. Despite the decrease in production, the company's liquidity remains strong at $222 million.
The decrease in Bitcoin production could be seen as a negative, but the strong revenue from the AI contract and robust liquidity position may offset concerns. The overall impact on the stock price is likely neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100