Bit Digital (NASDAQ: BTBT), a digital asset mining company headquartered in New York, has announced its unaudited financial results for the second quarter ended June 30, 2022. The company reported $6.5 million in bitcoin mining revenue and $0.3 million in revenue from ethereum mining among the financial highlights. According to management commentary, “In the second quarter of 2022, we managed to modestly increase bitcoin production on a sequential basis despite the previously announced interruptions to certain hosting partners’ operations. Fortunately, our team is well versed when it comes to overcoming logistical hurdles. Our rapid response included signing a new hosting agreement with Coinmint for 20 MW of primarily carbon-free power and executing a hash rate swap agreement with another miner, which provided for a 25% boost to our swapped hash rate. These actions helped propel our active hash rate to 1.06 EH/s by early July, which is nearly double where our active hash rate stood prior to the interruptions at the end of April.”
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About Bit Digital Inc.
Bit Digital is a digital assets mining company headquartered in New York City with mining operations in North America. For additional information, please contact IR@bit-digital.com or visit the company’s website at www.Bit-Digital.com.
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