luza studios
- Bit Digital (NASDAQ:BTBT) saw its bitcoin (BTC-USD) production in May drop by 47% from April primarily due to the halving event that reduced bitcoin block rewards, the company said on Wednesday.
- The company produced 63.3 bitcoin during the month, compared with 119.3 in April.
- The company had 256 servers actively generating revenue from its initial Bit Digital AI contracts, as of May 31, 2024, and estimates that it earned $4.2M of unaudited revenue from the contract during May.
- Bit Digital’s (BTBT) active hash rate fell to ~2.54 EH/s as of May 31, 2024, from ~2.76 EH/s as of April 30, 2024, driven by voluntary curtailment activity.
- Treasury holdings of bitcoin (BTC-USD) were 1,038.4 with a fair market value of ~$70.1M and of ethereum (ETH-USD) were 20,508.3 at a fair market value of $77.1M, on May 31, 2024.
- The company had cash and cash equivalents of $47.3M at the end of the May, compared with $43.7M as of April 30, 2024.
- Bit Digital (BTBT) stock rose 0.4% in Wednesday after-hours trading.
Read More: Bit Digital’s bitcoin production falls 47% in May on halving event (NASDAQ:BTBT)