Bit Digital bitcoin output rises 3% sequentially in January on higher average hash rate
Feb. 06, 2023 4:20 PM ETBit Digital, Inc. (BTBT)By: Jessica Kuruthukulangara, SA News Editor
- Bit Digital (NASDAQ:BTBT) said Monday it mined 134.3 bitcoin (BTC-USD) in January, up 3% from the prior month, driven by higher average active hash rate and partially offset by an increased network difficulty.
- Shares of Bit Digital (BTBT), which ended 5.4% lower on Monday, slipped 1.3% after the bell.
- The cryptocurrency miner's treasury holdings stood at 970.6 bitcoin and 10.2K ether (ETH-USD) as of January 31, with fair market value of ~$22.5M and $16.2M, respectively.
- The BTC equivalent of Bit Digital's (BTBT) crypto holdings as of January 31 (which includes ETH, sETH-H, and USDC) was ~1.9K, or ~$42.9M.
- Bit Digital's (BTBT) had cash and cash equivalents of $28M as of January 31.
- The company did not buy or sell any miners last month. 34% of its bitcoin mining fleet, or 13,065 miners representing 1.25 EH/s, was actively hashing in North America as of January 31.
- Earlier, Bit Digital (BTBT) stock dipped after bitcoin production fell in December.