Welcome to our dedicated page for Bit Digital news (Ticker: BTBT), a resource for investors and traders seeking the latest updates and insights on Bit Digital stock.
Bit Digital Inc (BTBT) is a diversified technology enterprise specializing in bitcoin mining, Ethereum staking, and high-performance computing infrastructure solutions. This page serves as the definitive source for all official company announcements, featuring press releases and curated news articles that matter to stakeholders.
Investors and industry observers will find comprehensive coverage of earnings reports, strategic partnerships, and operational developments across BTBT's core business units. The curated selection includes updates on mining capacity expansions, HPC infrastructure milestones, and blockchain network participation initiatives.
Bookmark this resource for direct access to Bit Digital's verified communications. Check regularly for new insights into the company's evolving role in digital asset production and advanced computing services.
Bit Digital, Inc. (NASDAQ: BTBT) announced on April 26, 2023, a significant expansion in its mining operations with a new agreement for 10 megawatts of hosting capacity at Coinmint's facility in Plattsburgh, New York. This agreement raises the total contracted capacity with Coinmint to approximately 30 MW. The company plans to deliver about 3,100 miners, including 2,000 new generation miners, to utilize this capacity. The first delivery is expected by the end of April 2023, followed by a second tranche by July 2023. CEO Sam Tabar emphasized the importance of diversifying their hosting strategy and aiming to double their hash rate by the end of the year, while also advancing towards carbon-free mining operations.
On April 5, 2023, Bit Digital, Inc. (Nasdaq: BTBT) released its unaudited bitcoin production report for March 2023. The company reported a total production of 119.4 bitcoins, a 10% increase from the previous month, attributed primarily to more operational days. As of March 31, 2023, Bit Digital was mining with 12,938 miners yielding 1.25 EH/s in North America. The company holds approximately $20.6 million in BTC and $16.6 million in ETH, totaling a digital asset value of about $42.1 million. Bit Digital reported $27.9 million in cash and cash equivalents, and did not make any transactions involving miners. Investors are cautioned about risks associated with market volatility and operational performance, emphasizing the uncertainties in bitcoin mining.
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