Bit Digital Inc Stock Price, News & Analysis

Bit Digital, Inc. (Nasdaq: BTBT) has amended its agreement with Compute North LLC, extending the hosting capacity for its bitcoin mining operations by an additional five years. The new terms provide approximately 6.5 MW for 2,000 miners, with a total expected hosting capacity of around 48 MW across Compute North's facilities in Nebraska and Texas. This upgrade includes the replacement of previously used equipment with new Bitmain Antminer S19j Pro miners, enhancing operational efficiency.

Bit Digital, Inc. (NASDAQ: BTBT) announced a Letter of Intent with BitMine Immersion Technologies, Inc. to host 7,000 ASIC miners, optimizing Bitcoin mining efficiency through immersion cooling technology. The formal agreement is set to be finalized shortly, with both companies aiming for a favorable revenue sharing model. CEO Bryan Bullett expressed enthusiasm for the partnership, highlighting the benefits of immersion technology. The delivery of miners is expected to commence soon, with full capacity anticipated by the end of August 2022.

Bit Digital (Nasdaq: BTBT) announced that its Chief Strategy Officer, Samir Tabar, will speak at the Bitcoin 2022 conference in Miami on April 7, addressing the Geopolitical Risks of Bitcoin Mining. The session will occur from 12:30 PM to 1:10 PM at the Mining Stage. The conference runs from April 6 to April 9 and features notable speakers, including El Salvador's President Nayib Bukele. Bit Digital focuses on bitcoin mining operations in North America.

Bit Digital, Inc. (Nasdaq: BTBT), a bitcoin mining company, announced its virtual presentation at the Ladenburg Thalmann Virtual Special Crypto Expo on March 24, 2022, at 08:30 AM ET. Bryan Bullett, CEO, will lead the presentation. An updated investor presentation is available on the company's website. The Expo features presentations from select crypto mining and blockchain technology companies to an invite-only institutional investor audience. Investors are reminded of the risks involved in their investments, particularly regarding bitcoin mining dynamics.

Bit Digital (Nasdaq: BTBT) announced its bitcoin production update for Q4 2021, reporting a total of 240.57 bitcoins earned. Notably, 100% of its miner fleet has migrated to North America, with 39.2% operational as of March 15, 2022. The company owns 27,744 bitcoin miners, with expected hash rates increasing to 2.6 EH/s following new purchases. Treasury holdings of BTC reached 808.2, valued at approximately $37.4 million. Importantly, 67% of the fleet's energy consumption is derived from carbon-free sources, highlighting its commitment to sustainability.

Bit Digital (NASDAQ: BTBT) has appointed Cameron Schnier as its new Head of Investor Relations. Reporting to Sam Tabar, the Chief Strategy Officer, Schnier will manage investor relations, corporate marketing, and equity research coverage. With over a decade of experience in the financial sector, Schnier previously worked at Wolfe Research and Evercore ISI. The appointment comes as Bit Digital aims to solidify its position as a leading Bitcoin miner in the United States amid rapid operational expansion.

Bit Digital (NASDAQ: BTBT) has reaffirmed its commitment to sustainability in the crypto mining sector, emphasizing its proactive environmental practices. The company plans to submit a formal testimony to the New York State Senate and inform U.S. Congress members in response to inquiries regarding its eco-friendly operations. CEO Bryan Bullett highlighted the use of clean energy and partnerships with the Crypto Climate Accord and the Bitcoin Mining Council. Bit Digital aims to achieve net-zero emissions by 2030 while enhancing renewable energy use in its operations.

Bit Digital, Inc. (Nasdaq: BTBT) has reported its unaudited financial results for Q3 2021. Revenue from bitcoin mining reached $10.4 million, with a total of 248.4 bitcoins mined, a decrease from 562.9 bitcoins in Q2 due to miner migration. The company successfully transitioned all miners out of China, now fully operational in North America. Non-GAAP income from operations stood at $4.8 million ($0.09 per share), with a non-GAAP net income of $4.0 million ($0.07 per share). Cash and equivalents totaled $26.5 million, with total liquidity at $61.5 million.

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.