Bit Digital, Inc. Ordinary Shares - BTBT STOCK NEWS

Bit Digital, Inc. (NASDAQ: BTBT) announced on April 26, 2023, a significant expansion in its mining operations with a new agreement for 10 megawatts of hosting capacity at Coinmint's facility in Plattsburgh, New York. This agreement raises the total contracted capacity with Coinmint to approximately 30 MW. The company plans to deliver about 3,100 miners, including 2,000 new generation miners, to utilize this capacity. The first delivery is expected by the end of April 2023, followed by a second tranche by July 2023. CEO Sam Tabar emphasized the importance of diversifying their hosting strategy and aiming to double their hash rate by the end of the year, while also advancing towards carbon-free mining operations.

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.

Bit Digital (Nasdaq: BTBT) announced a strategic investment in Auros Global Limited, a crypto-native algorithmic trading firm, on March 24, 2023. This partnership aims to enhance Bit Digital's risk-adjusted return on digital assets while managing operational and treasury risks. The collaboration will enable Bit Digital to leverage Auros’ derivatives offerings for hedging and yield opportunities. Both companies emphasize the importance of liquidity and market-making capabilities in the digital asset ecosystem. The investment reflects Bit Digital's confidence in Auros’ infrastructure and its commitment to fostering a sustainable digital assets ecosystem.

Bit Digital, Inc. (Nasdaq: BTBT), a digital asset mining firm, announced a strategic realignment of its executive leadership, effective March 31, 2023. CEO Bryan Bullett will transition to Senior Advisor, focusing on growth initiatives, while Chief Strategy Officer Sam Tabar will become the new CEO. The company highlighted its robust balance sheet, ending 2022 with $32.7 million in cash and no debt, positioning it for future growth. Key strategic priorities for 2023 include expanding into proof-of-stake (PoS) and enhancing treasury management. The reconstituted Advisory Board includes experienced leaders to support these initiatives.

Bit Digital (Nasdaq: BTBT) has formed a joint venture with Mega Matrix Corp. (NYSE: MPU) to develop proof-of-stake technology tools for digital assets through the staking platform MarsProtocol. The joint venture, based in Singapore, ensures user privacy by not storing private keys. Bit Digital will hold a 40% stake in the venture. As of January 31, 2023, Bit Digital had staked 2,164 ETH valued at approximately $19.4 million. The company aims to enhance its digital asset staking strategy, complementing its bitcoin mining operations.

Bit Digital, Inc. (Nasdaq: BTBT) reported a 19% decrease in bitcoin production for February 2023, earning 108.2 bitcoins compared to the previous month. The decline was mainly attributed to fewer days in February and increased network difficulty. As of February 28, 2023, Bit Digital operated 13,645 bitcoin miners with a hashing capacity of 1.30 EH/s in North America. Their treasury holdings included approximately $16.1 million in bitcoin and $11.8 million in Ethereum. The total BTC equivalent of digital assets is valued at around $33.4 million, with cash and cash equivalents of $33.6 million.

Bit Digital (Nasdaq: BTBT) reported its January 2023 bitcoin production results, achieving 134.3 bitcoins, a 3% increase from the previous month. This growth was attributed to a higher average active hash rate despite an increase in network difficulty. As of January 31, 2023, the company holds 970.6 bitcoins and 10,222.3 ETH, with a total fair market value of approximately $22.5 million and $16.2 million respectively. The company's BTC equivalent digital assets totaled around 1,855.7, valued at about $42.9 million. Cash and cash equivalents stand at $28 million. No miners were purchased or sold during the month.

Bit Digital, Inc. (Nasdaq: BTBT) has reported its unaudited bitcoin production and corporate updates for December 2022. The company mined 130 bitcoins, a 10% decline from the previous month due to planned curtailment activities. As of December 31, 2022, total holdings included 946.6 BTC valued at $15.7 million and 8,799.9 ETH worth $10.5 million. Cash and cash equivalents stood at $32.7 million, with 38,593 bitcoin miners and a hash rate of 2.7 EH/s.