NEW YORK, Oct. 4, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Firm”), a sustainable platform for digital property and synthetic intelligence (“AI”) infrastructure headquartered in New York, introduced its unaudited digital asset manufacturing, HPC providers income, and company updates for the month of September 2024.
Company Highlights for September 2024
- The Firm had 256 servers actively producing income from its preliminary Bit Digital AI contract, as of September 30, 2024. The Firm earned roughly $4.2 million of unaudited income from this contract through the month of September 2024.
- In September 2024, the Firm produced 51.5 BTC, a 3.6% lower in comparison with the prior month.
- The Firm’s lively hash charge was roughly 2.43 EH/s as of September 30, 2024.
- Treasury holdings of BTC and ETH have been 731.3 and 27,388.9 with a good market worth of roughly $46.3 million and $71.3 million, respectively, on September 30, 2024.
- The BTC equal[1] of our digital asset holdings as of September 30, 2024, was roughly 1,863.0 or roughly $118.0 million.
- The Firm had money and money equivalents of $104.0 million and complete liquidity (outlined as money and money equivalents, USDC, and the honest market worth of digital property) of roughly $222.0 million, as of September 30, 2024.
Proof-of-Stake Highlights
- The Firm had roughly 21,568 ETH actively staked in native staking protocols as of September 30, 2024.
- Bit Digital earned a blended APY of roughly 3.3% on its staked ETH place for the month of September 2024.
- The Firm earned combination staking rewards of roughly 57.9 ETH throughout September 2024.
Upcoming Occasions
- AIM Summit Dubai Convention, Dubai, United Arab Emirates on October 21-22
About Bit Digital
Bit Digital, Inc. is a sustainable platform for digital property and synthetic intelligence (“AI”) infrastructure headquartered in New York Metropolis. Our bitcoin mining operations are positioned within the US, Canada, and Iceland. The Firm has established a enterprise line, Bit Digital AI, that gives specialised cloud-infrastructure providers for synthetic intelligence functions. For extra info, please contact ir@bit-digital.com or go to our web site at www.bit-digital.com.
Investor Discover
Investing in our securities includes a excessive diploma of danger. Earlier than investing determination, it is best to fastidiously think about the dangers, uncertainties and forward-looking statements described below “Threat Components” in Merchandise 3.D of our most up-to-date Annual Report on Type 20-F for the fiscal yr ended December 31, 2023. If any materials danger was to happen, our enterprise, monetary situation or outcomes of operations would possible undergo. In that occasion, the worth of our securities may decline and you could possibly lose half or your whole funding. The dangers and uncertainties we describe are usually not the one ones dealing with us. Further dangers not presently recognized to us or that we at present deem immaterial might also impair our enterprise operations. As well as, our previous monetary efficiency is probably not a dependable indicator of future efficiency, and historic tendencies shouldn’t be used to anticipate outcomes sooner or later. Future modifications within the network-wide mining problem charge or bitcoin hash charge might also materially have an effect on the longer term efficiency of Bit Digital’s manufacturing of bitcoin. Precise working outcomes will differ relying on many elements together with community problem charge, complete hash charge of the community, the operations of our services, the standing of our miners, and different elements.
Secure Harbor Assertion
This press launch could include sure “forward-looking statements” referring to the enterprise of Bit Digital, Inc., and its subsidiary firms. All statements, aside from statements of historic truth included herein are “forward-looking statements.” These forward-looking statements are sometimes recognized by way of forward-looking terminology akin to “believes,” “expects,” or related expressions, involving recognized and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are cheap, they do contain assumptions, dangers and uncertainties, and these expectations could show to be incorrect. Buyers shouldn’t place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. The Firm’s precise outcomes may differ materially from these anticipated in these forward-looking statements because of a wide range of elements, together with these mentioned within the Firm’s periodic experiences which are filed with the Securities and Alternate Fee and accessible on its web site at http://www.sec.gov. All forward-looking statements attributable to the Firm or individuals performing on its behalf are expressly certified of their entirety by these elements. Apart from as required below the securities legal guidelines, the Firm doesn’t assume an obligation to replace these forward-looking statements.
[1] “BTC equal” is a hypothetical illustration of the worth of our digital asset treasury holdings in bitcoin phrases. BTC equal is outlined as if all non-BTC digital property, comprised of ETH, and USDC, have been transformed into BTC as of September 30, 2024, and added to our present BTC stability. Conversion values are discovered utilizing the closing value on coinmarketcap.com. Our digital asset portfolio excludes digital property invested in a third-party managed fund.
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SOURCE Bit Digital, Inc.
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