Bit Digital (BTBT) Issues August 2023 Production Update
Bit Digital, Inc. (Nasdaq: BTBT) announced its unaudited digital asset production and corporate updates for the month of
Corporate Highlights for
August 2023, the Company produced 139.9 BTC, a 5% increase compared to the prior month. The increase was primarily driven by a higher average active hash rate, partially offset by an increase in network difficulty.
- The Company’s active hash rate was approximately 2.03 EH/s as of
August 31, 2023.
- Treasury holdings of BTC and ETH were 758.5 and 13,002.1 with a fair market value of approximately
$19.7 millionand $21.4 million, respectively, on August 31, 2023.
- The BTC equivalent of our digital asset holdings as of
August 31, 2023, was approximately 1,747.0 or approximately $45.3 million.
- The Company had cash and cash equivalents of
$24.9 millionas of August 31, 2023.
- The Company had approximately 13,188 ETH actively staked in native and liquid staking protocols as of
August 31, 2023. Approximately 10,784 were natively staked and 2,404 ETH were deployed in liquid staking protocols as of that date.
- Additionally, the Company has 416 ETH (13 Nodes) deposited but in queue to be activated on the Ethereum staking network, which are estimated to come online by the end of
- Bit Digital earned a blended APY of approximately 4.4% on its staked ETH position for the month of
- The Company earned aggregate staking rewards of approximately 46.7 ETH during
Annual General Meeting
- Bit Digital will host its Annual General Meeting of the Company’s shareholders at
9:00am ETon September 20, 2023. The meeting will be virtual-only. Please see here for additional information: https://www.transhare.com/bitdigital.
Upcoming Conference Participation
Bit Digital will be presenting at the following conferences in
H.C. Wainwright25th Annual Global Investment Conference in New York Cityon September 11-13th.
- The Singular Midwestern Values Conference (virtual) on
About Bit Digital
Bit Digital, Inc. is a sustainability focused generator of digital assets headquartered in
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at https://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
 “BTC equivalent” is a hypothetical illustration of the value of our digital asset portfolio in bitcoin terms. BTC equivalent is defined as if all non-BTC digital assets, comprised of ETH, sETH-h, LsETH, and USDC, were converted into BTC as of
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SOURCE Bit Digital, Inc.
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