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Cryptocurrencies: 28644
Markets: 116584
Market Cap: $2,436,697,908,746     
24h Vol: $109,845,975,901
Seeking Alpha 2023-02-06 21:20:11

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

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 .
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