Bit Digital (BTBT) Announces Monthly Production Update for June

Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a digital asset mining company headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of June 2023.

Corporate Highlights for June 2023

• In June 2023, the Company produced 119.1 BTC, a 5% increase compared to the prior month. The increase in production was primarily driven by a higher average active hash rate and was partially offset by a decrease in transaction fees compared to the prior month.
• The Company's active hash rate was approximately 1.78 EH/s as of June 30, 2023.
• Treasury holdings of BTC and ETH were 485.0 and 11,738.9 with a fair market value of approximately $14.8 million and $22.7 million, respectively, on June 30, 2023.
• The BTC equivalent^[1] of our digital asset holdings as of June 30, 2023 (defined as if all ETH, sETH-H, LsETH and USDC holdings were converted into BTC as of that date and added to our BTC holdings) was approximately 1,445.2, or approximately $44.0 million.
• As of June 30, 2023, Bit Digital had transferred 129 BTC to its strategic partner, Auros Global Limited, as collateral for yield optimization strategies connected to 430 BTC that Auros is conducting on behalf of Bit Digital. This allocation relates to the Company's broader objective to enhance its overall treasury management solutions.
• The Company had cash and cash equivalents of $18.5 million as of June 30, 2023.

Proof-of-Stake Highlights

• The Company had approximately 11,716 ETH actively staked in native and liquid staking protocols as of June 30, 2023. Approximately 9,312 were natively staked and 2,404 ETH were deployed in liquid staking protocols as of that date.
• Additionally, The Company has 960 ETH (30 Nodes) deposited but in queue to be activated on the Ethereum staking network, which are estimated to come online by the end of July 2023.
• Bit Digital earned a blended APY of approximately 5% on its staked ETH position for the month of June 2023.
• The Company earned aggregate staking rewards of approximately 27 ETH during June 2023.

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