China's Bitcoin Mining Disruption Offers Bit Digital A Growth Opportunity

Rhea-AI Summary

Bit Digital (Nasdaq: BTBT), a major US bitcoin mining company, presented its Q2 operational highlights at Sequire's Blockchain Conference on July 15, 2021. The company's CEO, Bryan Bullett, discussed the potential growth opportunities following China's recent bitcoin mining disruptions. Bit Digital boasts one of the largest bitcoin mining fleets among US-listed companies, operating primarily in the US and Canada. The full transcript of the presentation is available in the company's Form 6-K filed on July 15.

Positive

• Bit Digital is considered one of the largest bitcoin mining fleets among US-listed miners.
• The conference provided a platform to highlight potential growth stemming from market shifts in China.

Negative

• None.

NEW YORK, July 22, 2021 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a bitcoin mining company headquartered in New York and one of the largest currently-owned fleets among US listed bitcoin miners, presented highlights from its second quarter operations at Sequire's Blockchain Conference July 15^th.

Bit Digital's CEO Bryan Bullett made the presentation with the full transcript found in Bit Digital's Form 6-K filed on July 15^th found here: https://www.sec.gov/Archives/edgar/data/1710350/000121390021036962/ea144234ex99-1_bitdigital.htm

"We welcomed being invited to Sequire's event featuring Bit Digital and other leading Blockchain companies," says Sam Tabar, Chief Strategy Officer at the Company, "The conference provided our CEO a great venue for Bit Digital to share its positioning and our special opportunity related to China."

About Bit Digital

Bit Digital, Inc. is a bitcoin mining company headquartered in New York City with one of the largest currently-owned fleets among US listed bitcoin miners. Our operations are in the United States and Canada. For additional information, please contact Samir Tabar at sam@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, as well as other factors beyond our control, 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 July 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.

^[1] Actual operating hash rate will vary depending on network difficulty rate, total hash rate of the network, the operations of our facilities and the status of our miners. 

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SOURCE Bit Digital, Inc.

FAQ

What were the key highlights from Bit Digital's Q2 operations presentation?

Bit Digital highlighted its significant position in the bitcoin mining market and growth opportunities due to China's mining disruptions during its Q2 operations presentation.

What is Bit Digital's focus in the bitcoin mining industry?

Bit Digital focuses on bitcoin mining with operations primarily in the US and Canada, holding one of the largest mining fleets in the US.

When did Bit Digital present at Sequire's Blockchain Conference?

Bit Digital presented its Q2 operational highlights at Sequire's Blockchain Conference on July 15, 2021.

Where can I find the transcript of Bit Digital's presentation?

The full transcript of Bit Digital's presentation is available in its Form 6-K filed on July 15, 2021.

What stock symbol is associated with Bit Digital?

Bit Digital is listed under the stock symbol BTBT on Nasdaq.