Bit Digital Inc Stock Price, News & Analysis

Bit Digital, a leading Bitcoin mining company, has signed the Crypto Climate Accord to commit to achieving net-zero emissions from its operations by 2030. This initiative focuses on transitioning the crypto sector to renewable energy. The company currently powers its mining fleet with a majority of carbon-free energy and aims to expand its clean power use. Additionally, it is the first US-listed miner to undergo an independent environmental review. This emphasizes its leadership in sustainable crypto mining.

Bit Digital announced a strategic co-mining agreement with Digihost Technologies on June 10, 2021. This agreement allows Bit Digital to utilize Digihost's premises and services for a 20 MW Bitcoin mining system. The collaboration is expected to increase the combined hashrate by approximately 400 PH. Digihost will provide power and management services to ensure 95% uptime for the mining equipment. The miners are anticipated to be delivered and installed in Q4 2021, contributing to Bit Digital's ongoing expansion in North America.

Bit Digital (Nasdaq: BTBT), a prominent Bitcoin mining company, has appointed Brock Pierce, Chairman of the Bitcoin Foundation, to its advisory board. This move aims to enhance the company's leadership as it focuses on U.S. expansion. CEO Bryan Bullett highlighted Pierce's industry stature and valuable relationships. Pierce praised Bit Digital's operational scale and commitment to carbon neutrality. With extensive experience in Bitcoin mining, he plans to contribute to the company's ongoing success. The company, headquartered in New York, operates in the U.S., Canada, and China.

Bit Digital, Inc. (Nasdaq: BTBT) reported first-quarter 2021 results with revenue of $43.95 million from bitcoin mining, earning 1,013.40 bitcoins. The company has expanded its operations, owning 40,965 miners after acquiring 100 miners in the quarter. Net income reached $35.79 million, translating to earnings per share of $0.74, a significant turnaround from a net loss of $3.85 million and a loss per share of $0.25 in Q1 2020.

On May 5, 2021, Bit Digital (Nasdaq: BTBT) announced its partnership with Foundry Digital LLC, launching Bitcoin mining operations with 5,679 machines contributing up to 280 PH/s to the Foundry USA Pool. This move aims to solidify Foundry's position among the top Bitcoin mining pools worldwide. Foundry USA Pool, the first North American mining pool employing a Full-Pay-Per-Share payout method, offers institutional-focused services integrated with Genesis Global Trading. Bit Digital, which entered the mining sector in February 2020, produced 1,013.4 bitcoins in Q1 2021.

Bit Digital, Inc. (Nasdaq: BTBT) reported its first-quarter 2021 bitcoin production, earning 1,013.40 bitcoins. As of March 31, 2021, the company's bitcoin treasury increased to 581.23 bitcoins, valued at approximately $29.92 million. The total number of miners owned rose to 40,965, achieving a maximum hash rate of 2,264.5 PH/s. The company is actively expanding its operations by purchasing additional miners and migrating operations to North America, with a total purchase of $21.09 million for 4,771 miners after the quarter end.

Bit Digital, one of the largest publicly listed Bitcoin mining companies, announces its participation in the H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021. The event will be virtual, and the company's executives will engage in one-on-one meetings with institutional investors and analysts. Bit Digital has significant operations in the United States, Canada, and China, boasting one of the highest operating hash rates among US-listed Bitcoin miners. Investors can learn more about the company via their official website.

On April 21, 2021, Bit Digital (Nasdaq: BTBT) announced a new 40MW hosting agreement with Compute North to expand its bitcoin mining operations in North America. This agreement will see the deployment of 13,000 ASIC miners, reinforcing Bit Digital's commitment to sustainability and energy efficiency. The partnership enables flexible integration of renewable energy sources, positioning Bit Digital as a leader in the transition to sustainable bitcoin mining, while enhancing grid stability. The hardware deployment is expected to be completed by summer 2021.

Bit Digital, Inc. (Nasdaq: BTBT) announced the appointment of Bryan Bullett as CEO and Sam Tabar as Chief Strategy Officer, reinforcing its executive team for growth. Bullett brings over 20 years of experience in financial technology and blockchain, while Tabar has a track record in strategic initiatives and FinTech. The company aims to leverage its high operating hash rate in Bitcoin mining and focus on sustainable mining practices to drive growth. CFO Eric Huang expressed optimism about the company's future.