NEW YORK, March 2, 2021 / PRNewswire / – Bit Digital, Inc. (Nasdaq: BTBT), an emerging bitcoin mining company headquartered in New York, announced its unaudited Bitcoin production data for the past month January 31, 2021. During the month, the company earned 424.7 bitcoins, which was roughly equivalent $ 14.8 million in revenue. From January 31, 2021the company owned 488.5 bitcoins in treasury, against 262.6 bitcoins per day December 31, 2021.
The increase in mining production was mainly due to the launch of 17,996 additional mining operations at the end of 2020. Bit Digital currently owns 40,865 mining machines globally with a combined hash speed of 2,253.5 PH / s, which corresponds to an estimated 1.4% of the global bitcoin mining network capacity, based on available data at the time of this press release.
This mining data is the first in a series of regular updates that the company will publish to promote transparency. “Bit Digital plans to release production reports to support key milestones on a regular basis,” shared interim CEO and CFO Erke Huang. “We believe in our leading position in the mining sector and will strive to protect both our brand’s reputation and the interests of our stakeholders in Bit Digital.”
Safe Harbor statement
This press release may contain certain “forward-looking statements” concerning Bit Digital, Inc. and its subsidiaries. All statements, except statements about historical facts included in this, are “forward-looking statements.” These forward-looking statements are often identified through the use of forward-looking terminology such as “believe”, “expect” or similar expressions, which involve known and unknown risks and uncertainties. Although the Company considers that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not rely unnecessarily on these forward-looking statements, which only speak from the day of this press release. The Company’s actual results may differ materially from those expected in these forward-looking statements due to a variety of factors, including those discussed in the Company’s periodic reports submitted to the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements that can be attributed to the company or persons acting on its behalf are expressly qualified in their entirety by these factors. Except as required by securities law, the Company assumes no obligation to update these forward-looking statements.
SOURCE Bit Digital, Inc.