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Cryptocurrencies: 28943
Markets: 114119
Market Cap: $2,705,910,060,432     
24h Vol: $103,073,440,843
Seeking Alpha 2023-01-06 16:45:27

Bit Digital stock dips after bitcoin production falls in December

Bit Digital stock dips after bitcoin production falls in December
Bit Digital ( NASDAQ: BTBT ) shares fell 6% on Friday after the bitcoin miner reported 10% M/M drop in December bitcoin production . The company earned 130 bitcoins in the month, down from 144.1 bitcoins in November 2022. The decline in production was primarily driven by planned curtailment activities at certain hosting locations. Treasury holdings of BTC and ETH were 946.6 and 8,799.9 with a fair market value of approximately $15.7M and $10.5M, respectively, on December 31, 2022. As of December 31, 2022, the company owned 38,593 bitcoin miners and 730 Ethereum miners with an estimated maximum total hash rate of 2.7 EH/s and 0.3 TH/s, respectively.
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