Bit Digital (BTBT) Reports August 2024 Monthly Production Update

Bit Digital, Inc. (Nasdaq: BTBT) announced its unaudited digital asset production, HPC services revenue, and corporate updates for the month of August 2024.

Corporate Highlights for August 2024

• The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of August 31, 2024. The Company earned approximately $4.3 million of unaudited revenue from this contract during the month of August 2024. A service credit of $579k related to the downtime experienced during an equipment upgrade was issued to the client in August for the period of February to June 2024.
• In August 2024, the Company produced 53.4 BTC, an 11.7% decrease compared to the prior month.
• The Company's active hash rate was approximately 2.43 EH/s as of August 31, 2024.
• Treasury holdings of BTC and ETH were 682.4 and 27,331.0 with a fair market value of approximately $40.2 million and $68.7 million, respectively, on August 31, 2024.
• The BTC equivalent^[1] of our digital asset holdings as of August 31, 2024, was approximately 1,858.3 or approximately $109.6 million.
• The Company had cash and cash equivalents of $106.9 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $216.5 million, as of August 31, 2024.

Proof-of-Stake Highlights

• The Company had approximately 21,568 ETH actively staked in native staking protocols as of August 31, 2024.
• Bit Digital earned a blended APY of approximately 3.1% on its staked ETH position for the month of August 2024.
• The Company earned aggregate staking rewards of approximately 56.6 ETH during August 2024.

Upcoming Events

• 2024 Annual Gateway Conference, San Francisco, CA on September 4-5
• H.C. Wainwright 26^th Annual Global Investment Conference, New York, NY on September 11-12

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