{"id":484604,"date":"2021-04-29T16:03:45","date_gmt":"2021-04-29T20:03:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021\/"},"modified":"2021-04-29T16:03:45","modified_gmt":"2021-04-29T20:03:45","slug":"bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021\/","title":{"rendered":"Bit Digital, Inc. Announces Bitcoin Production and Mining Operations Update for the First Quarter of 2021"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">April 29, 2021<\/span> \/PRNewswire\/ &#8212; Bit Digital, Inc. (Nasdaq: BTBT) (&#8220;Bit Digital&#8221; or the &#8220;Company&#8221;), a bitcoin mining company headquartered in <span class=\"xn-location\">New York<\/span>, announced its unaudited bitcoin production and mining asset updates for the first quarter ended <span class=\"xn-chron\">March 31, 2021<\/span>. <\/p>\n<p>\n        <b>Preliminary First Quarter 2021 Highlights<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>The Company earned 1,013.40 bitcoins in the first quarter of 2021. <\/li>\n<li>Treasury holdings of bitcoin increased to 581.23, with a fair market value of approximately <span class=\"xn-money\">$29.92 million<\/span> as of <span class=\"xn-chron\">March 31, 2021<\/span>. <\/li>\n<li>The Company owned 40,965 miners as of <span class=\"xn-chron\">March 31, 2021<\/span>, with a maximum total hash rate[1] of 2,264.5 PH\/s, and made additional miner purchases subsequent to quarter end. <\/li>\n<\/ul>\n<p>\n        <b>Bitcoin Production Update<\/b>\n      <\/p>\n<p>In the first quarter of 2021, Bit Digital earned 1,013.40 newly minted bitcoins. The Company&#8217;s quarterly bitcoin production since commencement of our mining operations was as follows:<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder9857\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1500286\/image1.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1500286\/image1.jpg\" title=\"\" alt=\"\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>Mining Assets Update <\/b>\n      <\/p>\n<p>As of <span class=\"xn-chron\">March 31, 2021<\/span>, the Company owned 40,965 miners, with a total maximum hash rate of 2,264.5 PH\/S, an increase from 2,253.5 PH\/S as of <span class=\"xn-chron\">December 31, 2021<\/span>. The Company&#8217;s fleet of owned miners comprised the following models: <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Model<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Owned as of March 31, 2021<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">MicroBT Whatsminer M21S <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,917<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bitmain Antminer T17<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,110<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bitmain Antminer S17+<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,025<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">MicroBT Whatsminer M20S<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,125<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">MicroBT Whatsminer M10<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,200<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bitmain Antminer T3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">800<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bitmain Antminer T17+<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">256<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bitmain Antminer S19 Pro<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">205<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bitmain Antminer S17E<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">195<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">MicroBT Whatsminer M31S <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">100<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Bitmain Antminer S17 Pro<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>40,965<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Miner Acquisitions<\/b>\n      <\/p>\n<p>During the quarter, we purchased 100 Bitmain Antminer S19<span id=\"spanHghlt6209\">\u00a0<\/span>Pro miners on the spot market. Subsequent to <span class=\"xn-chron\">March 31, 2021<\/span>, we purchased an additional 4,771 miners on the spot market, for a total purchase price of <span class=\"xn-money\">$21,091,966<\/span>. These purchases will increase the Company&#8217;s maximum hash rate to 2,574 PH\/S. All of the newly purchased miners have been or will be deployed in <span class=\"xn-location\">North America<\/span>. The newly purchased miners comprised 954 Whatsminer M20S, 261 Whatsminer M31S, 1,426 Bitmain Antminer S17, 1,800 Bitmain Antminer S17+, 280 Avalon A1246 and 50 VM V1 miners. <\/p>\n<p>\n        <b>Miner Migration Update<\/b>\n      <\/p>\n<p>The Company accelerated its strategy of migrating miners from <span class=\"xn-location\">China<\/span> to <span class=\"xn-location\">North America<\/span>. During the quarter, the Company completed the installation of an additional 2,920 miners in <span class=\"xn-location\">North America<\/span>. Subsequent to quarter end, as of <span class=\"xn-chron\">April 29, 2021<\/span>, the Company had completed the installation of a further 3,496 miners in <span class=\"xn-location\">North America<\/span>. An additional 2,130 miners are currently in transit or awaiting installation in <span class=\"xn-location\">North America<\/span>. The following table represents our miner geographic locations as of <span class=\"xn-chron\">April 29, 2021<\/span>: <\/p>\n<p>\n        <b>Miner Geographic Distribution as of <span class=\"xn-chron\">April 29, 2021<\/span><\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Location<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Number of Miners<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Percentage of Total Miners<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Canada<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,426<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.12%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">United States<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,090<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15.50%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">China<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,090<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">76.72%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">In transit to or awaiting installation in North America<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,130<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.66%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>45,736<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>100.00%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Management Commentary <\/b>\n      <\/p>\n<p>&#8220;We made great progress continuing to scale our mining business in the first quarter of 2021, producing 1,013.40 bitcoins. Bit Digital today enjoys one of the largest currently owned and operating fleets of any US listed bitcoin mining company,&#8221; said <span class=\"xn-person\">Bryan Bullett<\/span>, Bit Digital&#8217;s CEO. &#8220;We owned 40,965 miners, with a maximum hash rate of 2,264.5 PH\/s as of <span class=\"xn-chron\">March 31, 2021<\/span>.&#8221; <\/p>\n<p>&#8220;We achieved this scale through our differentiated approach of spot market miner sourcing, and through entry into partnerships with valued hosting providers, to secure access to electricity and facilities at competitive rates. We also took advantage of opportunities to migrate our miners on a seasonal basis to opportunistically access lower-cost power, a material portion of which comes, on average, from renewable sources.&#8221; <\/p>\n<p>&#8220;Further, we have continued our globalization strategy, deploying additional miners in <span class=\"xn-location\">North America<\/span>, where as of <span class=\"xn-chron\">April 29, 2021<\/span>, we owned 8,516 miners with a further 2,130 miners currently in transit or awaiting installation. Going forward, we intend to expand our presence in <span class=\"xn-location\">North America<\/span>, and expect a growing portion of our fleet to be located here.&#8221;\u00a0<\/p>\n<p>\n        <b>About Bit Digital<\/b>\n      <\/p>\n<p>Bit Digital, Inc. is a bitcoin mining company headquartered in <span class=\"xn-location\">New York City<\/span> with one of the highest operating hash rates (or computing power) among all US listed bitcoin miners, and growing. Our operations are in <span class=\"xn-location\">the United States<\/span>, <span class=\"xn-location\">Canada<\/span> and <span class=\"xn-location\">China<\/span>. For additional information, please contact <span class=\"xn-person\">Sam Tabar<\/span> at <a target=\"_blank\" href=\"mailto:sam@bit-digital.com\" rel=\"nofollow noopener\">sam@bit-digital.com<\/a>\u00a0or visit our\u00a0 <a target=\"_blank\" href=\"http:\/\/www.bit-digital.com\/\" rel=\"nofollow noopener\">www.bit-digital.com<\/a>. <\/p>\n<p>\n        <b>Investor Notice<\/b>\n      <\/p>\n<p>Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under &#8220;Risk Factors&#8221; in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended <span class=\"xn-chron\">December 31, 2020<\/span>. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or Bitcoin hash rate may also materially affect the future performance of Bit Digital&#8217;s production of bitcoin. Additionally, all discussions of financial metrics assume mining difficulty rates as of <span class=\"xn-chron\">March 2021<\/span>. See &#8220;Safe Harbor Statement&#8221; below. <\/p>\n<p>\n        <b>Safe Harbor Statement<\/b>\n      <\/p>\n<p>This press release may contain certain &#8220;forward-looking statements&#8221; relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are &#8220;forward-looking statements.&#8221; These forward-looking statements are often identified by the use of forward-looking terminology such as &#8220;believes,&#8221; &#8220;expects,&#8221; or similar expressions, involving known and unknown risks and uncertainties. Although the company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company&#8217;s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company&#8217;s periodic reports that are filed with the Securities and Exchange Commission and available on its website at <u><a target=\"_blank\" href=\"http:\/\/www.sec.gov\/\" rel=\"nofollow noopener\">http:\/\/www.sec.gov<\/a><\/u>. All forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the company does not assume a duty to update these forward-looking statements.<\/p>\n<hr \/>\n<p><\/p>\n<p>[1] Actual operating hash rate will vary depending on network difficulty rate, total hash rate of the network, the operations of our facilities and the status of our miners. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1314923\/Company_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1314923\/Company_Logo.jpg\" title=\"Company Logo (PRNewsfoto\/Bit Digital, Inc.)\" alt=\"Company Logo (PRNewsfoto\/Bit Digital, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN61167&amp;sd=2021-04-29\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021-301280702.html\">http:\/\/www.prnewswire.com\/news-releases\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021-301280702.html<\/a><\/p>\n<p>SOURCE  Bit Digital, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CN61167&amp;Transmission_Id=202104291600PR_NEWS_USPR_____CN61167&amp;DateId=20210429\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire NEW YORK, April 29, 2021 \/PRNewswire\/ &#8212; Bit Digital, Inc. (Nasdaq: BTBT) (&#8220;Bit Digital&#8221; or the &#8220;Company&#8221;), a bitcoin mining company headquartered in New York, announced its unaudited bitcoin production and mining asset updates for the first quarter ended March 31, 2021. Preliminary First Quarter 2021 Highlights The Company earned 1,013.40 bitcoins in the first quarter of 2021. Treasury holdings of bitcoin increased to 581.23, with a fair market value of approximately $29.92 million as of March 31, 2021. The Company owned 40,965 miners as of March 31, 2021, with a maximum total hash rate[1] of 2,264.5 PH\/s, and made additional miner purchases subsequent to quarter end. Bitcoin Production Update In the first quarter of 2021, Bit Digital &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bit Digital, Inc. Announces Bitcoin Production and Mining Operations Update for the First Quarter of 2021&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-484604","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bit Digital, Inc. Announces Bitcoin Production and Mining Operations Update for the First Quarter of 2021 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bit Digital, Inc. Announces Bitcoin Production and Mining Operations Update for the First Quarter of 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire NEW YORK, April 29, 2021 \/PRNewswire\/ &#8212; Bit Digital, Inc. (Nasdaq: BTBT) (&#8220;Bit Digital&#8221; or the &#8220;Company&#8221;), a bitcoin mining company headquartered in New York, announced its unaudited bitcoin production and mining asset updates for the first quarter ended March 31, 2021. Preliminary First Quarter 2021 Highlights The Company earned 1,013.40 bitcoins in the first quarter of 2021. Treasury holdings of bitcoin increased to 581.23, with a fair market value of approximately $29.92 million as of March 31, 2021. The Company owned 40,965 miners as of March 31, 2021, with a maximum total hash rate[1] of 2,264.5 PH\/s, and made additional miner purchases subsequent to quarter end. Bitcoin Production Update In the first quarter of 2021, Bit Digital &hellip; Continue reading &quot;Bit Digital, Inc. 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Announces Bitcoin Production and Mining Operations Update for the First Quarter of 2021 - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021\/","og_locale":"en_US","og_type":"article","og_title":"Bit Digital, Inc. Announces Bitcoin Production and Mining Operations Update for the First Quarter of 2021 - Market Newsdesk","og_description":"PR Newswire NEW YORK, April 29, 2021 \/PRNewswire\/ &#8212; Bit Digital, Inc. (Nasdaq: BTBT) (&#8220;Bit Digital&#8221; or the &#8220;Company&#8221;), a bitcoin mining company headquartered in New York, announced its unaudited bitcoin production and mining asset updates for the first quarter ended March 31, 2021. Preliminary First Quarter 2021 Highlights The Company earned 1,013.40 bitcoins in the first quarter of 2021. Treasury holdings of bitcoin increased to 581.23, with a fair market value of approximately $29.92 million as of March 31, 2021. The Company owned 40,965 miners as of March 31, 2021, with a maximum total hash rate[1] of 2,264.5 PH\/s, and made additional miner purchases subsequent to quarter end. Bitcoin Production Update In the first quarter of 2021, Bit Digital &hellip; Continue reading \"Bit Digital, Inc. Announces Bitcoin Production and Mining Operations Update for the First Quarter of 2021\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-29T20:03:45+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1500286\/image1.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bit-digital-inc-announces-bitcoin-production-and-mining-operations-update-for-the-first-quarter-of-2021\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Bit Digital, Inc. 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