Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Seeking Alpha 2023-02-06 21:20:11

Bit Digital bitcoin output rises 3% sequentially in January on higher average hash rate

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 .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.