Business
/C O R R E C T I O N -- Bit Digital, Inc./
In the news release, "Bit Digital Announces Agreements to Purchase 10,000 Antminers from Bitmain", issued 12-Oct-2021 by Bit Digital, Inc. over PR Newswire,
About this update from Bit Digital, Inc.
[{"type":"text","content":"In the news release, \"Bit Digital Announces Agreements to Purchase 10,000 Antminers from Bitmain\", issued 12-Oct-2021 by Bit Digital, Inc. over PR Newswire, we are advised by the company that the first paragraph, the first and second sentences, should read \"Bit Digital, Inc. (Nasdaq: BTBT) (the \"Company\" or \"Bit Digital\"), a bitcoin mining company headquartered in New York, today announced that it has signed an agreement with Bitmain Technologies Limited (\"Bitmain\") to purchase 10,000 Bitcoin miners. The announced purchases are expected to increase Bit Digital's miner fleet hash rate by approximately 1.0 Exahash (\"EH/s\").\" rather than \"Bit Digital, Inc. (Nasdaq: BTBT) (the \"Company\" or \"Bit Digital\"), a bitcoin mining company headquartered in New York, today announced that it has signed agreements with Bitmain Technologies Limited (\"Bitmain\") to purchase 10,000 Bitcoin mining hardware. The announced purchases are expected to increase Bit Digital's miner fleet hash rate by over 1.0 Exahash (\"EH/s\").\" as originally issued inadvertently. The complete, corrected release follows:\n\nBit Digital Announces Agreements to Purchase 10,000 Antminers from Bitmain\n\n\nNEW YORK, Oct. 12, 2021 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (the \"Company\" or \"Bit Digital\"), a bitcoin mining company headquartered in New York, today announced that it has signed an agreement with Bitmain Technologies Limited (\"Bitmain\") to purchase 10,000 Bitcoin miners. The announced purchases are expected to increase Bit Digital's miner fleet hash rate by approximately 1.0 Exahash (\"EH/s\").\n\n \n \n \n \n \n \n\n \nBryan Bullett, Bit Digital's CEO, stated: \"By contracting for these Bitmain units, we have opened a new channel in our procurement strategy, diversifying our access to miners. While we believe we continue to enjoy differentiated access to the miner spot market, and expect to continue our ongoing spot purchases, our deal with Bitmain is an efficient means to procure a large quantum of new miners on attractive terms. This is key, as we believe that scale is paramount in importance in the bitcoin mining business. We look forward to a productive ongoing customer relationship with Bitmain.\" \n\"Bit Digital's purchase of our Antminer products will help solidify the company as one of the key mining businesses in North Amer...