Business
Bit Digital, Inc. Announces Monthly Production Update for December 2024
NEW YORK, Jan. 8, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a global platform for high-performance computing
About this update from Bit Digital, Inc.
[{"type":"text","content":"NEW YORK, Jan. 8, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (\"Bit Digital\" or the \"Company\"), a global platform for high-performance computing (\"HPC\") infrastructure and digital asset production headquartered in New York, announced its unaudited digital asset production, HPC services revenue, and corporate updates for the month of December 2024.\n\n \n \n \n \n \n \n\n \n Corporate Highlights for December 2024\nThe Company had 266 servers (2,128 GPUs) actively generating revenue from its Bit Digital AI contracts, as of December 31, 2024. The Company earned approximately $4.5 million of total unaudited GPU Cloud revenue during the month of December 2024. In addition, the Company received $177K in cash payments from its equipment leasing contract with Boosteroid during the month of December 2024.Treasury holdings of BTC and ETH were 742.1 and 27,623.9 with a fair market value of approximately $69.3 million and $92.1 million, respectively, on December 31, 2024.The BTC equivalent[1] of our digital asset holdings as of December 31, 2024, was approximately 1,731.8 or approximately $161.8 million.The Company had cash and cash equivalents of $98.6 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $260.4 million in December 2024.Colocation Services Revenue Highlights\nThe Company had 14 customers actively generating revenue at its Tier-3 Enovum Data Center facility, as of December 31, 2024.The Company's HPC data center colocation revenue was approximately CAD $757.8k (approximately USD $528.1k) in December 2024.On December 27, 2024, the Company acquired the real estate and building for a build-to-suit 5MW Tier 3 data center expansion project in Montreal, Canada. The Company purchased the site (\"MTL2\") for CAD $33.5 million (approximately USD $23.3MM assuming a CAD/USD exchange rate of 0.70) excluding fees. This acquisition is part of the Company's strategy to expand its HPC data center footprint to 32MW during 2025. This site also comprises part of Bit Digital's 288MW proprietary pipeline announced earlier this year. The Company expects to spend approximately CAD $27.6 million (approx.USD $19.3MM) to develop the site to Tier-3 standards with an initial gross load of 5MW. The site is expected to be completed and operational by May 2025...