Bit Digital Produced 61.7 BTC In June 2024, A 2.5% Decrease Compared To The Prior Month; Had 256 Servers Actively Generating Revenue From Its Initial Bit Digital AI Contract, Earned An Estimated $4.1M Of Unaudited Revenue

Author: Benzinga Newsdesk | July 05, 2024 08:03am

Bit Digital, Inc. (NASDAQ:BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of June 2024.

Corporate Highlights for June 2024

The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of June 30, 2024. The Company earned an estimated $4.1 million of unaudited revenue from this contract during the month of June 2024.
In June 2024, the Company produced 61.7 BTC, a 2.5% decrease compared to the prior month.
The Company's active hash rate was approximately 2.57 EH/s as of June 30, 2024.
Treasury holdings [1] of BTC and ETH were 585.9 and 29,927.9 with a fair market value of approximately $36.7 million and $102.7 million, respectively, on June 30, 2024.
The BTC equivalent[2] of our digital asset holdings as of June 30, 2024, was approximately 2,230.5 or approximately $139.8 million.
- The Company had cash and cash equivalents of $60.8 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $200.6 million, as of June 30, 2024.

Posted In: BTBT