Bit Digital Inc Stock Price, News & Analysis

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.

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.