Bit Digital, Inc. · NASDAQ:BTBT
Bit Digital — H.C. Wainwright 24th Annual Global Investment Conference (September 2022)
18 slides from Bit Digital's conference presentation, Sep 12, 2022
Slide 1: Bit Digital is an American sustainability-focused generator of digital assets
1 1 September 2022 Bit Digital is an American sustainability - focused generator of digital assets
Slide 2: Risk factors and safe harbor statement
Investing 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 end
Slide 3: Our Mission
Our Mission To build a leading North American digital asset mining platform while setting the standard for sustainability 3
Slide 4: Bit Digital Highlights
Bit Digital Highlights Bit Digital Inc. (Nasdaq: BTBT) is a leading North American digital asset miner focused on sustainability Bit Digital is an institutional scale digital asset miner, with a fleet of 39,325 specialized computers, diversified across four states in the U.S. and one location in Can
Slide 5: Balance Sheet as of 6/30/2022
Balance Sheet as of 6/30/2022: $500 million ATM (effective with SEC and completely undrawn as of August 31, 2022) Zero leverage Our balance sheet continues to hold a net cash position 100% of announced miner purchases already funded › Total liquidity of $72.6 million (defined as cash ($45.6M), restr
Slide 6: Efficient hosting portfolio positioned for growth
Efficient hosting portfolio positioned for growth Expansion power contracted Unit power consumption (S19j Pro) Fleet expansion capacity (S19j Pro) 105.2 MW 0.003 MW 34,504 Units Hash rate per unit (S19j Pro) 100 TH/S Implied fleet expansion 3.5 EH/S Current fleet hash rate 2.7 EH/S Pro forma hash ra
Slide 7: Bit Digital Introduces ETH Staking
Bit Digital Introduces ETH Staking Bit Digital will expand from mining Bitcoin to also validating transactions on the Ethereum blockchain Will accumulate and actively stake ETH to generate yields Provides a new, predictable and recurring stream of digital asset rewards Diversifies into another blue
Slide 8: Ethereum Miners vs Validators Compensation
Ethereum Miners Compensation Ethereum Validators Compensation Estimated varies Yield dependent on network usage 8 Estimated 8.9% 3 Est. yield on staked Ethereum The Ethereum Blockchain • Ethereum powers a smart contract economy that has made it the second biggest blockchain by market capitalization
Slide 9: Ethereum staking benefits Bit Digital stakeholders
Ethereum staking benefits Bit Digital stakeholders Revenue diversification with rewards denominated in ETH Yield bearing asset with deflationary properties NAV appreciation potential, through exposure to the smart contract economy – predicted to be a growing market Potential for ETH balances to comp
Slide 10: How We Got Here
How We Got Here Focus remains on sustainable growth February 2020 Commenced Bitcoin Mining 2021 May 2021 Joined Foundry USA Pool April 2021 Announced 40MW hosting agreement with Compute North October 2021 Announced closing of $80 Million private placement to institutional investors June 2021 Became
Slide 11: Bit Digital is infrastructure-light, maximizing return to shareholders
Bit Digital is infrastructure - light, maximizing return to shareholders and operational resiliency Texas Georgia Capital investment focused primarily on ASICs (mining computers), not physical infrastructure (data centers and power generation) We partner with best - in - class data center operators,
Slide 12: We are part of the US digital asset innovation ecosystem
Owner and operator of among the world’s most efficient crypto mining data centers; powered by renewable energy A US leader in network development, hosting, and mining operations; 90% of operations are zero - carbon, 50% powered by renewable energy The Leader in high - performance 100% net carbon - n
Slide 13: ESG: We are a leader in digital asset sustainability
ESG: We are a leader in digital asset sustainability Inspired by the Paris Climate Agreement, the CCA is a private sector - led initiative for the entire crypto community, focused on decarbonizing the cryptocurrency and blockchain industry. BMC is a voluntary and open forum of Bitcoin miners committ
Slide 14: Solving for Success
Solving for Success Bitcoin mining is an industry with increasing barriers to entry Mining requires application - specific integrated circuits (“ASICs”) – advanced computers customized for bitcoin mining The supply of ASICs can be severely constrained. Procurement requires both access to the supply
Slide 15: Our strategy enables us to deploy capital with maximum efficiency and velocity
Our strategy enables us to deploy capital with maximum efficiency and velocity Strategic Procurement Advantage Our miner procurement strategy is differentiated , allowing us to continue scaling even at times of industry supply constraints (e.g., chip shortages) Order Delivery Purchase Delivery Purch
Slide 16: Leadership Team
Leadership Team BRYAN BULLETT Chief Executive Officer Mr. Bullett has over 20 years’ experience spanning financial services and technology. Since early 2020, he served as Managing Director for a boutique investment bank focused on FinTech and venture capital. From 2016 to 2019, he was US Head of Cap
Slide 17: Leadership Team
Leadership Team ERKE HUANG Chief Financial Officer & Director Mr. Huang had served as Co - Founder and advisor of Long Soar Technology Limited from August 2019 to October 2020; Founder and CEO of Bitotem Investment Limited from May 2018 to October 2019; Investment Manager of Guojin Capital from June
Slide 18: Contact
33 Irving Place New York, NY 10003 United States +1 212 463 5121 IR@bit - digital.com 18 18
Bit Digital — H.C. Wainwright 24th Annual Global Investment Conference (September 2022) on 6ix