NEW YORK, May 6, 2024 /PRNewswire/ -- 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 April 2024.
Corporate Highlights for April 2024
- In April 2024, the Company produced 119.3 BTC, a 12.5% decrease compared to the prior month. The decrease relative to the prior month was predominantly due to the reduction of bitcoin block rewards post-halving.
- The Company's active hash rate was approximately 2.76 EH/s as of April 30, 2024.
- Treasury holdings[1] of BTC and ETH were 992.4 and 20,241.7 with a fair market value of approximately $60.2 million and $61.0 million, respectively, on April 30, 2024.
- The BTC equivalent[2] of our digital asset holdings as of April 30, 2024, was approximately 2,010.1 or approximately $121.9 million.
- The Company had cash and cash equivalents of $43.7 million as of April 30, 2024.
Bit Digital AI Update
- As of April 30, 2024, the Company had 251 servers actively generating revenue from its initial Bit Digital AI contract. The Company earned an estimated $4.1 million of unaudited revenue from this contract during the month of April 2024.
Proof-of-Stake Highlights
- The Company had approximately 17,184 ETH actively staked in native staking protocols as of April 30, 2024.
- Bit Digital earned a blended APY of approximately 1.0% on its staked ETH position for the month of April 2024. The decrease in yield was due to the lag time in redeploying its staked ETH after changing its provider for native staking solutions.
- The Company earned aggregate staking rewards of approximately 13.9 ETH during April 2024.
About Bit Digital
[email protected] or visit our website at www.bit-digital.com.
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SOURCE Bit Digital, Inc.
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