Bit Digital, Inc., a New York-based sustainable platform for digital assets and artificial intelligence infrastructure, has reported its financial results for the fiscal year 2023. The company, which operates bitcoin mining operations in the US, Canada, and Iceland, filed its annual report with the SEC on March 18, 2024. Bit Digital's total revenue for the fiscal year was $44.9 million, marking a 39% increase from the previous year, primarily driven by its bitcoin mining business. The company's cash and total liquidity stood at $18.2 million and $81.2 million, respectively, as of December 31, 2023. Bit Digital's total assets were valued at $189.3 million, with shareholders' equity amounting to $152.7 million. The adjusted EBITDA for the year was $12.4 million, and the adjusted earnings per share were $0.12. Operational highlights...Show More

Bit Digital, Inc., a New York-based sustainable platform for digital assets and artificial intelligence infrastructure, has reported its financial results for the fiscal year 2023. The company, which operates bitcoin mining operations in the US, Canada, and Iceland, filed its annual report with the SEC on March 18, 2024. Bit Digital's total revenue for the fiscal year was $44.9 million, marking a 39% increase from the previous year, primarily driven by its bitcoin mining business. The company's cash and total liquidity stood at $18.2 million and $81.2 million, respectively, as of December 31, 2023. Bit Digital's total assets were valued at $189.3 million, with shareholders' equity amounting to $152.7 million. The adjusted EBITDA for the year was $12.4 million, and the adjusted earnings per share were $0.12. Operational highlights include the production of 1,507.3 bitcoins, a 21% increase from the prior year, and the earning of 287.0 ETH in native staking and 81.9 ETH in liquid staking. The company also expanded its operations into Iceland and launched a new business line, Bit Digital AI, which has already begun generating revenue. Looking ahead, Bit Digital aims to expand its bitcoin mining fleet and grow its AI business with a revenue target of $100 million by the end of 2024.