Bit Digital Announces New Investor Presentation

Rhea-AI Summary

Bit Digital, Inc. (Nasdaq: BTBT) announced the availability of a new investor presentation on its website, aimed at enhancing investor engagement. The company operates nearly 40,000 bitcoin miners, projecting a power cost of $0.036 kWh and production costs of $5,978 per BTC. In 3Q21, bitcoin production reached 3,335, up significantly from 814 in 3Q20. With a hash rate of 2.6 EH/s, Bit Digital plans to expand its operations with over 200MW of contracted hosting power and a goal of 100% sustainable energy sources.

Positive

• Increased bitcoin production to 3,335 in 3Q21 from 814 in 3Q20.
• Projected low production cost of $5,978 per BTC.
• Over 200MW of contracted hosting power for operational expansion.
• Strategic commitment to sustainability with 50% operations running on carbon-free sources.

Negative

• None.

NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a public bitcoin mining company headquartered in New York, is pleased to announce its new investor presentation is now available on the Company's website in the Investors section.

Bit Digital is an American sustainability-focused generator of digital assets with a mission to build the largest global digital asset mining platform. The Company owns a fleet of nearly 40,000 miners, with a projected weighted average power cost of $0.036 kWh, a production cost of $5,978/BTC, and a hash rate of 2.6 EH/s. Bit Digital operates an institutional scale digital asset portfolio across five sites in the US and Canada. The Company continues to increase the number of bitcoins mined reaching 3,335 historically in 3Q21 versus 814 in 3Q20. Bit Digital brings proven institutional capabilities and access to strategic opportunities in the North American market through its seasoned NYC based leadership team with strong experience in the digital assets and mining space. The Company continues to strengthen its strategic commitment to sustainability with about half of its operations running on carbon-free energy sources, with a goal of 100% sustainable power. Bit Digital maximizes ROE by focusing investment on mining assets, while leveraging strategic partnerships for access to physical infrastructure and low-cost energy. With over 200MW of contracted hosting power, Bit Digital is well positioned to expand its fleet in 2022.

About Bit Digital

Bit 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 Samir Tabar at IR@bit-digital.com or visit our  www.bit-digital.com.

Investor Notice

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 ended December 31, 2020. 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 impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or Bitcoin hash rate may also materially affect the future performance of Bit Digital's production of bitcoin. Additionally, all discussions of financial metrics assume mining difficulty rates as of September 2021. See "Safe Harbor Statement" below.

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involving known and unknown risks and uncertainties. Although the company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

 

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SOURCE Bit Digital, Inc.

FAQ

What is the latest investor presentation from Bit Digital (BTBT)?

The latest investor presentation from Bit Digital is now available on their website.

How much bitcoin did Bit Digital mine in 3Q21?

Bit Digital mined 3,335 bitcoins in 3Q21.

What is the production cost per BTC for Bit Digital?

The production cost per BTC for Bit Digital is projected at $5,978.

What is Bit Digital's hash rate?

Bit Digital has a hash rate of 2.6 EH/s.

Is Bit Digital focused on sustainability?

Yes, Bit Digital aims for 100% sustainable energy sources, with about half of its operations already using carbon-free energy.