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Bit Digital Produced 61.7 BTC In June 2024, A 2.5% Decrease Compared To The Prior Month; Had 256 Servers Actively Generating Revenue From Its Initial Bit Digital AI Contract, Earned An Estimated $4.1M Of Unaudited Revenue

Benzinga ·  Jul 5 20:03

Bit Digital, Inc. (NASDAQ:BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of June 2024.

(PRNewsfoto/Bit Digital, Inc.)

Corporate Highlights for June 2024

  • The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of June 30, 2024. The Company earned an estimated $4.1 million of unaudited revenue from this contract during the month of June 2024.
  • In June 2024, the Company produced 61.7 BTC, a 2.5% decrease compared to the prior month.
  • The Company's active hash rate was approximately 2.57 EH/s as of June 30, 2024.
  • Treasury holdings [1] of BTC and ETH were 585.9 and 29,927.9 with a fair market value of approximately $36.7 million and $102.7 million, respectively, on June 30, 2024.
  • The BTC equivalent[2] of our digital asset holdings as of June 30, 2024, was approximately 2,230.5 or approximately $139.8 million.
    • The Company had cash and cash equivalents of $60.8 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $200.6 million, as of June 30, 2024.
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