Bit Digital, Inc. Announces Monthly Production Update for December 2024
Bit Digital (BTBT) has released its December 2024 production update, highlighting significant operations across multiple segments. The company's GPU Cloud division generated approximately $4.5 million in unaudited revenue, with 266 servers (2,128 GPUs) actively operating. Treasury holdings included 742.1 BTC and 27,623.9 ETH, valued at $69.3 million and $92.1 million respectively.
The company reported total liquidity of $260.4 million, including $98.6 million in cash and cash equivalents. In HPC operations, Bit Digital acquired a new site in Montreal for CAD $33.5 million for a 5MW Tier 3 data center expansion project. The company secured a significant contract with DNA Holdings Venture Inc. for 576 H200 GPUs, representing potential revenue of $20.2 million over 25 months.
In mining operations, Bit Digital produced 32.4 BTC (down 27.8% from November) with an active hash rate of 1.8 EH/s. The company purchased 941 S21 miners for $3.2 million and sold 4,506 S19 units for $836.6k. Additionally, 21,568 ETH were actively staked, earning a 3.3% APY and generating 60.6 ETH in staking rewards.
Bit Digital (BTBT) ha pubblicato il suo aggiornamento produttivo di dicembre 2024, evidenziando operazioni significative in diversi segmenti. La divisione GPU Cloud dell'azienda ha generato circa 4,5 milioni di dollari in ricavi non auditati, con 266 server (2.128 GPU) attivamente operativi. Le partecipazioni in tesoreria includevano 742,1 BTC e 27.623,9 ETH, valutati rispettivamente 69,3 milioni di dollari e 92,1 milioni di dollari.
L'azienda ha riportato una liquidità totale di 260,4 milioni di dollari, di cui 98,6 milioni di dollari in contante e equivalenti. Nelle operazioni HPC, Bit Digital ha acquisito un nuovo sito a Montreal per 33,5 milioni di CAD per un progetto di espansione di un data center Tier 3 da 5MW. L'azienda ha ottenuto un contratto significativo con DNA Holdings Venture Inc. per 576 GPU H200, che rappresentano un potenziale ricavo di 20,2 milioni di dollari in 25 mesi.
Nelle operazioni di mining, Bit Digital ha prodotto 32,4 BTC (in diminuzione del 27,8% rispetto a novembre) con un tasso di hash attivo di 1,8 EH/s. L'azienda ha acquistato 941 miner S21 per 3,2 milioni di dollari e venduto 4.506 unità S19 per 836,6k dollari. Inoltre, 21.568 ETH sono stati attivamente stakati, guadagnando un APY del 3,3% e generando 60,6 ETH in ricompense di staking.
Bit Digital (BTBT) ha publicado su actualización de producción de diciembre de 2024, destacando operaciones significativas en varios segmentos. La división GPU Cloud de la empresa generó aproximadamente $4.5 millones en ingresos no auditados, con 266 servidores (2,128 GPUs) operando activamente. Las tenencias de tesorería incluían 742.1 BTC y 27,623.9 ETH, valorados en 69.3 millones de dólares y 92.1 millones respectivamente.
La empresa reportó una liquidez total de $260.4 millones, incluyendo $98.6 millones en efectivo y equivalentes. En operaciones HPC, Bit Digital adquirió un nuevo sitio en Montreal por 33.5 millones de CAD para un proyecto de expansión de centro de datos de 5MW Tier 3. La compañía aseguró un contrato significativo con DNA Holdings Venture Inc. para 576 GPUs H200, representando ingresos potenciales de 20.2 millones de dólares en 25 meses.
En operaciones de minería, Bit Digital produjo 32.4 BTC (una disminución del 27.8% desde noviembre) con una tasa de hash activa de 1.8 EH/s. La empresa compró 941 mineros S21 por 3.2 millones de dólares y vendió 4,506 unidades S19 por 836.6k. Además, 21,568 ETH fueron activamente apostados, ganando un 3.3% APY y generando 60.6 ETH en recompensas de apuesta.
Bit Digital (BTBT)는 2024년 12월 생산 업데이트를 발표하며 여러 부문에서 중요한 운영을 강조했습니다. 회사의 GPU 클라우드 부문은 약 450만 달러의 감사되지 않은 수익을 창출했으며, 266개의 서버(2,128 GPU)가 활발히 운영되고 있습니다. 재무 보유 자산에는 각각 6930만 달러와 9210만 달러로 평가된 742.1 BTC 및 27,623.9 ETH가 포함되어 있었습니다.
회사는 현금 및 현금성 자산으로 9860만 달러를 포함한 총 유동성 2억 6040만 달러를 보고했습니다. HPC 운영에서 Bit Digital은 몬트리올에 3350만 캐나다 달러에 5MW 티어 3 데이터 센터 확장 프로젝트를 위한 새로운 사이트를 인수했습니다. 회사는 DNA Holdings Venture Inc.와 576개의 H200 GPU에 대한 상당한 계약을 체결했으며, 이는 25개월 동안 2020만 달러의 잠재적 수익을 나타냅니다.
채굴 작업에서 Bit Digital은 32.4 BTC를 생산했으며(11월 대비 27.8% 감소) 활성 해시율은 1.8 EH/s입니다. 회사는 320만 달러에 941개의 S21 채굴기를 구입했으며, 836.6k에 4506개의 S19 유닛을 판매했습니다. 또한, 21,568 ETH가 활발히 스테이킹되어 연 3.3%의 APY를 얻고 스테이킹 보상으로 60.6 ETH를 생성했습니다.
Bit Digital (BTBT) a publié sa mise à jour de production de décembre 2024, mettant en évidence des opérations significatives dans plusieurs segments. La division GPU Cloud de l'entreprise a généré environ 4,5 millions de dollars en revenus non audités, avec 266 serveurs (2 128 GPU) opérationnels. Les avoirs de trésorerie comprenaient 742,1 BTC et 27 623,9 ETH, évalués respectivement à 69,3 millions de dollars et 92,1 millions de dollars.
L'entreprise a signalé une liquidité totale de 260,4 millions de dollars, dont 98,6 millions de dollars en espèces et équivalents. Dans les opérations HPC, Bit Digital a acquis un nouveau site à Montréal pour 33,5 millions de CAD pour un projet d'expansion de centre de données Tier 3 de 5 MW. L'entreprise a obtenu un contrat significatif avec DNA Holdings Venture Inc. pour 576 GPU H200, représentant des revenus potentiels de 20,2 millions de dollars sur 25 mois.
Dans les opérations de minage, Bit Digital a produit 32,4 BTC (en baisse de 27,8 % par rapport à novembre) avec un taux de hachage actif de 1,8 EH/s. L'entreprise a acheté 941 mineurs S21 pour 3,2 millions de dollars et vendu 4 506 unités S19 pour 836,6 k$. De plus, 21 568 ETH ont été activement stakés, générant un APY de 3,3 % et 60,6 ETH en récompenses de staking.
Bit Digital (BTBT) hat sein Produktionsupdate vom Dezember 2024 veröffentlicht, das bedeutende Operationen in mehreren Segmenten hervorhebt. Die GPU-Cloud-Abteilung des Unternehmens erzielte einen nicht testierten Umsatz von etwa 4,5 Millionen Dollar, wobei 266 Server (2.128 GPUs) aktiv betrieben wurden. Die Treasury-Bestände umfassten 742,1 BTC und 27.623,9 ETH, die zusammen 69,3 Millionen Dollar und 92,1 Millionen Dollar wert waren.
Das Unternehmen berichtete über eine GesamtlLiquidität von 260,4 Millionen Dollar, davon 98,6 Millionen Dollar in bar und in liquiden Mitteln. Im HPC-Bereich erwarb Bit Digital ein neues Grundstück in Montreal für 33,5 Millionen CAD für ein 5-MW-Tier-3-Rechenzentrum. Das Unternehmen sicherte sich einen bedeutenden Vertrag mit DNA Holdings Venture Inc. über 576 H200 GPUs, die potenzielle Einnahmen von 20,2 Millionen Dollar über 25 Monate repräsentieren.
In den Mining-Operationen produzierte Bit Digital 32,4 BTC (27,8 % weniger im Vergleich zum November) mit einer aktiven Hashrate von 1,8 EH/s. Das Unternehmen kaufte 941 S21-Miner für 3,2 Millionen Dollar und verkaufte 4.506 S19-Einheiten für 836,6 Tausend Dollar. Darüber hinaus wurden 21.568 ETH aktiv gestakt, was einen APY von 3,3 % einbrachte und 60,6 ETH an Staking-Belohnungen erzeugte.
- Secured new GPU contract worth $20.2 million over 25 months
- Strong liquidity position of $260.4 million
- Generated $4.5 million in GPU Cloud revenue
- Significant digital asset holdings valued at $161.8 million
- Strategic expansion with new 5MW data center acquisition
- 27.8% decrease in BTC production compared to previous month
- 28% decrease in active hash rate
- Net loss on mining equipment transactions ($2.36 million difference between purchases and sales)
Insights
A comprehensive financial update reveals Bit Digital's robust liquidity position with
However, the
The acquisition of the MTL2 site for a 5MW Tier-3 data center represents a strategic infrastructure play in Montreal's advantageous market, known for lower power costs and cooler climate. The planned
The existing colocation services generating
The ETH staking operation with 21,568 ETH actively staked shows a conservative yield strategy, generating a
The total digital asset holdings of 1,731.8 BTC equivalent (
Corporate Highlights for December 2024
- The Company had 266 servers (2,128 GPUs) actively generating revenue from its Bit Digital AI contracts, as of December 31, 2024. The Company earned approximately
$4.5 million $177 K - Treasury holdings of BTC and ETH were 742.1 and 27,623.9 with a fair market value of approximately
$69.3 million $92.1 million - The BTC equivalent[1] of our digital asset holdings as of December 31, 2024, was approximately 1,731.8 or approximately
$161.8 million - The Company had cash and cash equivalents of
$98.6 million $260.4 million
Colocation Services Revenue Highlights
- The Company had 14 customers actively generating revenue at its Tier-3 Enovum Data Center facility, as of December 31, 2024.
- The Company's HPC data center colocation revenue was approximately CAD
$757.8 k$528.1 k - On December 27, 2024, the Company acquired the real estate and building for a build-to-suit 5MW Tier 3 data center expansion project in
Montreal, Canada . The Company purchased the site ("MTL2 ") for CAD$33.5 million $23 $27.6 million $19
GPU Cloud Highlights
- On December 31, 2024, Bit Digital AI entered into a Master Service Agreement and associated purchase order with a new customer, an AI Compute Fund managed by DNA Holdings Venture Inc. The purchase order provides for services utilizing a total of 576 H200 GPUs over a twenty-five (25) month period, terminable by either party upon at least 90 days' written notice prior to any renewal date. It represents an aggregate revenue opportunity of approximately
$20.2 million
Digital Assets Highlights
- In December 2024, the Company produced 32.4 BTC, a
27.8% decrease compared to the prior month. The decrease was primarily driven by a change in the Company's hosting portfolio, ongoing redeployment of mining assets to new sites, and the retirement of older generation miners. - In December 2024, the Company's active hash rate was approximately 1.8 EH/s, a
28% decrease compared to the prior month. The decrease was primarily driven by a change in the Company's hosting portfolio, ongoing redeployment of mining assets to new sites, and the retirement of older generation miners. - The Company purchased 941 S21 mining units for approximately
$3.2 million - The Company sold 4,506 S19 mining units for approximately
$836.6 k - The Company had approximately 21,568 ETH actively staked in native staking protocols as of December 31, 2024.
- Bit Digital earned a blended APY of approximately
3.3% on its staked ETH position for the month of December 2024. - The Company earned aggregate staking rewards of approximately 60.6 ETH during December 2024.
About Bit Digital
Bit Digital, Inc. is a global platform for high-performance computing ("HPC") infrastructure and digital asset production headquartered in
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 Annual Report on Form 20-F for the fiscal year ended December 31, 2023 ("Annual Report"). Notwithstanding the fact that Bit Digital Inc. has not conducted operations in the PRC since September 30, 2021 we have previously disclosed under Risk Factors in our Annual Report: "We may be subject to fines and penalties for any noncompliance with or any liabilities in our former business in
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.
[1] "BTC equivalent" is a hypothetical illustration of the value of our digital asset treasury holdings in bitcoin terms. BTC equivalent is defined as if all non-BTC digital assets, comprised of ETH, and USDC, were converted into BTC as of December 31, 2024, and added to our existing BTC balance. Conversion values are found using the closing price on coinmarketcap.com. Our digital asset portfolio excludes digital assets invested in a third-party managed fund. |
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SOURCE Bit Digital, Inc.
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