Bit Digital Inc Stock Price, News & Analysis

Bit Digital (Nasdaq: BTBT) has officially leased office space at 429 Lenox Avenue, Miami Beach, Florida, marking its second U.S. office location. The decision to establish a permanent presence in Miami aligns with the city's growing prominence in the crypto sector and enables closer collaboration with key partners. CEO Bryan Bullett emphasized the company's excitement about being part of Miami's vibrant crypto community, while Chief Strategy Officer Sam Tabar noted the management team's increased presence in the area.

Bit Digital (Nasdaq: BTBT), a major US bitcoin mining company, presented its Q2 operational highlights at Sequire's Blockchain Conference on July 15, 2021. The company's CEO, Bryan Bullett, discussed the potential growth opportunities following China's recent bitcoin mining disruptions. Bit Digital boasts one of the largest bitcoin mining fleets among US-listed companies, operating primarily in the US and Canada. The full transcript of the presentation is available in the company's Form 6-K filed on July 15.

Bit Digital, Inc. (Nasdaq: BTBT) has appointed Justin Zhu as Vice President of Finance, effective July 2021. Zhu, who brings nine years of financial services experience including roles at Ernst & Young and PwC, will focus on enhancing the company’s compliance capabilities. His expertise in US GAAP and SEC reporting is expected to strengthen Bit Digital's management team. CEO Bryan Bullett emphasized the importance of Zhu’s experience in supporting their compliance efforts as the company continues to establish a robust management structure.

Bit Digital (Nasdaq: BTBT) reported its bitcoin production and mining operations for Q2 2021. As of June 30, 2021, 70.8% of its miner fleet was in North America due to the suspension of operations in China. The company owned 32,500 miners, producing 562.9 bitcoins in the quarter. Bitcoin treasury holdings rose to 588.4, valued at approximately $20.6 million. Bit Digital accelerated its migration strategy and plans further miner purchases, anticipating an increase in production upon fleet completion.

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.