Bit Digital Inc Stock Price, News & Analysis

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.

Bit Digital, Inc. (Nasdaq: BTBT) has announced its membership in the Bitcoin Mining Council (BMC), joining notable companies like MicroStrategy and Marathon Digital. The firm aims to enhance sustainability in its operations, committing to the use of 100% carbon-free energy in the future. Michael Saylor, founder of BMC, welcomed Bit Digital, recognizing its efforts in carbon-free energy. The company is refining its strategy in line with BMC's emphasis on transparency and sustainable practices. Extensive media coverage includes features in the Wall Street Journal and Bloomberg.

Bit Digital, Inc. (Nasdaq: BTBT) has reported its unaudited bitcoin production and operational update for Q3 2021, highlighting the completion of its fleet's relocation from China to North America. By September 30, 2021, 100% of its 27,744 miners were in North America, with a maximum hash rate of 1.603 EH/s. The company earned 248.36 bitcoins this quarter, a decline from 588.4 in Q2 due to operational disruptions during the migration. Bit Digital raised $80 million in a private placement and agreed to purchase 10,000 additional miners from Bitmain, anticipated to increase hash rate by 1.0 EH/s.

Bit Digital, Inc. (Nasdaq: BTBT), a bitcoin mining company, was featured in a video report by The Wall Street Journal on October 14, 2021, focusing on its operations and commitment to using carbon-neutral energy sources. The company operates a 35 MW bitcoin mining system in collaboration with BlockfusionUSA, Inc. and has the right of first refusal for future asset acquisitions. Bit Digital emphasizes sustainability in its mining operations, located in the U.S. and Canada. The company warns investors of high risks, uncertainties, and forward-looking statements regarding its future performance.

Bit Digital (Nasdaq: BTBT) has signed agreements with Bitmain Technologies to purchase 10,000 Bitcoin mining hardware units, expected to increase its miner fleet hash rate by over 1.0 Exahash (EH/s). CEO Bryan Bullett emphasized that this purchase diversifies their procurement strategy and enhances their operational scale in the bitcoin mining business. Bitmain's Antminer Sales Director, Irene Gao, noted that this partnership will solidify Bit Digital's position in North America. The company is committed to sustainability with mining operations in the U.S. and Canada.

Bit Digital (Nasdaq: BTBT) has successfully closed a private placement with institutional investors, raising approximately $80 million through the sale of 13,490,728 ordinary shares. Each share was priced at $5.93, complemented by unregistered warrants to purchase up to 10,118,046 shares at an exercise price of $7.91. The warrants are immediately exercisable and valid for three and a half years. H.C. Wainwright & Co. acted as the exclusive placement agent. Securities offered are not registered under the Securities Act, limiting their sale in the U.S.

Bit Digital, Inc. (Nasdaq: BTBT) announced a definitive agreement for a private placement of 13,490,728 ordinary shares with institutional investors, raising approximately $80 million. The shares are priced at $5.93 each, with unregistered warrants to purchase up to 10,118,046 additional shares at an exercise price of $7.91. The placement is expected to close on or about October 4, 2021, subject to customary conditions. Bit Digital focuses on sustainability in bitcoin mining across the U.S. and Canada. The securities are unregistered under the Securities Act and cannot be offered in the U.S. without proper registration.

Bit Digital, Inc. (Nasdaq: BTBT) announced the appointment of Brock Pierce to its board of directors, effective October 31, 2021. This marks a significant step in the company's transition to North America, highlighting Pierce's leadership in the Bitcoin community. Pierce, recognized for his extensive experience in digital assets, is expected to drive Bit Digital's growth strategy in the region. Chief Strategy Officer Sam Tabar expressed confidence in Pierce's strategic vision, aimed at enhancing the company's operations and commitment to becoming carbon-neutral amidst its expanding fleet of bitcoin mining operations.