BTC Digital Ltd. reported Q3 2024 financial results with total revenue increasing 202.84% to $2.6 million, driven by $2.1 million from mining machine resales and $0.4 million from miner rentals. However, Bitcoin mining revenue declined 86.9% to $0.1 million due to increased machine allocation to rentals and the Bitcoin halving event impact.The company's gross loss narrowed to $261,000 from $541,000 in Q3 2023, with gross margin improving to -10.2% from -64%. Operating expenses increased moderately, with general and administrative expenses rising 42.48% to $218,000. The net loss decreased significantly to $571,000 from $1 million in the prior year period.As of September 30, 2024, BTC Digital owned 2,021 mining machines with a total hash rate of 213PH/S. The company maintained $27,000 in cash and cash equivalents, while digital assets increased to $736,000 from $436,000 at year-end 2023. Management continues to focus on diversifying revenue streams through mining machine resales and rentals to mitigate Bitcoin price volatility risks.

BTC Digital Ltd. reported Q3 2024 financial results with total revenue increasing 202.84% to $2.6 million, driven by $2.1 million from mining machine resales and $0.4 million from miner rentals. However, Bitcoin mining revenue declined 86.9% to $0.1 million due to increased machine allocation to rentals and the Bitcoin halving event impact.The company's gross loss narrowed to $261,000 from $541,000 in Q3 2023, with gross margin improving to -10.2% from -64%. Operating expenses increased moderately, with general and administrative expenses rising 42.48% to $218,000. The net loss decreased significantly to $571,000 from $1 million in the prior year period.As of September 30, 2024, BTC Digital owned 2,021 mining machines with a total hash rate of 213PH/S. The company maintained $27,000 in cash and cash equivalents, while digital assets increased to $736,000 from $436,000 at year-end 2023. Management continues to focus on diversifying revenue streams through mining machine resales and rentals to mitigate Bitcoin price volatility risks.