Business
Bit Digital, Inc. Announces Monthly Production Update for August 2022
NEW YORK, Sept. 7, 2022 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a digital asset mining company headquartered in New
About this update from Bit Digital, Inc.
[{"type":"text","content":"NEW YORK, Sept. 7, 2022 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (\"Bit Digital\" or the \"Company\"), a digital asset mining company headquartered in New York, announced its unaudited bitcoin and Ethereum production and corporate updates for the month of August 2022.\n\n \n \n \n \n \n \n\n \nCorporate Highlights for August 2022\nIn August 2022, the Company earned 145.3 bitcoins, a 2% increase compared to the prior month. The Company earned 0 ETH during August 2022 compared to 0.5 in the month ending July 31, 2022.Treasury holdings of BTC and ETH were 919.2 and 3,684.0 with a fair market value of approximately $18.4 million and $5.7 million, respectively, on August 31, 2022.The Company owned 38,594 bitcoin miners and 731 Ethereum miners as of August 31, 2022, with an estimated maximum total hash rate of 2.7 Exahash (\"EH/s\") and 0.3 Terahash (\"TH/s), respectively.During the month, the Company purchased 561 M30s miners and sold 103 M21 miners.Miner Deployments \nDuring the month of August, the Company continued to work with hosting partners to deploy miners. 29% of its currently-owned fleet, or 11,545 bitcoin miners and 0 ETH miners representing 1.04 EH/s and 0 TH/s, respectively, was deployed in North America as of August 31, 2022. The Company's ETH miners remain offline due to previously announced interruptions to certain hosting partners' operations.\nAbout Bit Digital\nBit Digital, Inc. is a bitcoin mining company headquartered in New York City. Our mining operations are located in North America. For additional information, please contact [email protected] or visit our website at www.bit-digital.com.\nInvestor Notice\nInvesting in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under \"Risk Factors\" in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2021. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impa...