Bit Digital Produced 60.5 BTC In July 2024; Active Hash Rate Was ~2.46 EH/s As Of July 31, 2024

Author: Benzinga Newsdesk | August 06, 2024 05:24pm

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 July 2024.

Corporate Highlights for July 2024

• The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of July 31, 2024. The Company earned an estimated $4.3 million of unaudited revenue from this contract during the month of July 2024.
• In July 2024, the Company produced 60.5 BTC, a 1.9% decrease compared to the prior month.
• The Company's active hash rate was approximately 2.46 EH/s as of July 31, 2024.
• Treasury holdings of BTC and ETH were 641.8 and 27,274.4 with a fair market value of approximately $41.5 million and $88.1 million, respectively, on July 31, 2024.
• The BTC equivalent[1] of our digital asset holdings as of July 31, 2024, was approximately 2,009.0 or approximately $129.8 million.
• The Company had cash and cash equivalents of $82.1 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $211.9 million, as of July 31, 2024.

Proof-of-Stake Highlights

• The Company had approximately 17,184 ETH actively staked in native staking protocols as of July 31, 2024.
• Bit Digital earned a blended APY of approximately 3.3% on its staked ETH position for the month of July 2024.
• The Company earned aggregate staking rewards of approximately 47.5 ETH during July 2024.

 

Posted In: BTBT