Bit Digital, Inc. Announces Monthly Production Update for March 2023
On April 5, 2023, Bit Digital, Inc. (Nasdaq: BTBT) released its unaudited bitcoin production report for March 2023. The company reported a total production of 119.4 bitcoins, a 10% increase from the previous month, attributed primarily to more operational days. As of March 31, 2023, Bit Digital was mining with 12,938 miners yielding 1.25 EH/s in North America. The company holds approximately $20.6 million in BTC and $16.6 million in ETH, totaling a digital asset value of about $42.1 million. Bit Digital reported $27.9 million in cash and cash equivalents, and did not make any transactions involving miners. Investors are cautioned about risks associated with market volatility and operational performance, emphasizing the uncertainties in bitcoin mining.
- Bitcoin production increased to 119.4 bitcoins, up 10% from the previous month.
- Miner count stood at 12,938, producing 1.25 EH/s.
- Digital asset holdings valued at approximately $42.1 million.
- None.
Corporate Highlights for
- In
March 2023 , the Company earned 119.4 bitcoins, a10% increase compared to the prior month. The increase in production was primarily driven by additional days during the month. - 12,938 bitcoin miners representing 1.25 EH/s were actively hashing in
North America as ofMarch 31, 2023 . Treasury holdings of BTC and ETH were 724.8 and 9,136.2 with a fair market value of approximately and$20.6 million , respectively, on$16.6 million March 31, 2023 .- The BTC equivalent[1] of our digital asset holdings as of
March 31, 2023 (defined as if all ETH, sETH-H, LsETH, and USDC holdings were converted into BTC as of that date and added to our BTC holdings) was approximately 1,480.0, or approximately .$42.1 million - The Company had cash and cash equivalents of
as of$27.9 million March 31, 2023 . - The Company did not purchase or sell any miners during the month.
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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
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This press release may contain certain "forward-looking statements" relating to the business of
[1] "BTC equivalent" is a hypothetical illustration of the value of our digital asset portfolio in bitcoin terms. BTC equivalent is defined as if all non-BTC digital assets, comprised of ETH, sETH-h, LSETH, and USDC, were converted into BTC as of |
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FAQ
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