Seeking Alpha
2022-09-08 06:12:41

Crypto miner Bit Digital earned 145.3 Bitcoins in August, up 2% M/M

Cryptocurrency miner Bit Digital (NASDAQ:BTBT) up 1.4% after-hours on Tuesday after the bitcoin mining company provided August production update, earning 145.3 bitcoins (BTC-USD) in the month - a 2% growth compared to the prior month.Bit Digital (BTBT) earned 0 ethereum (ETH-USD) during August 2022 compared to 0.5 in July 2022.Treasury holdings of BTC and ETH were 919.2 and 3,684.0, with a fair market value of ~$18.4M and $5.7M, respectively, on August 31, 2022.As of August 31, 2022, the company owned 38,594 bitcoin miners and 731 Ethereum miners, with an estimated maximum total hash rate of 2.7 EH/s and 0.3 TH/s, respectively.It continued working with hosting partners to deploy miners during the month. As of August 31, 2022, 29% of its currently-owned fleet, or 11,545 bitcoin miners and 0 ETH miners, was deployed in North America.As for bitcoin (BTC-USD), the world's largest cryptocurrency by market cap, it's been stuck in a rut since the beginning of September, wobbling slightly above and below $20K. Previously, Bit Digital stock climbs as July bitcoin production soars 111% M/M.

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