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Bit Digital, Inc. Reports Monthly Production Update for January 2025

On February 7, 2025, Bit Digital, Inc. (Nasdaq: BTBT), a leading global provider of high-performance computing (HPC) infrastructure and digital asset production, announced its financial and operational results for January 2025. The firm has seen significant activity, demonstrating its resilience amid the evolving cryptocurrency landscape.

Financial Performance Overview

In January 2025, Bit Digital achieved approximately $4.9 million in unaudited HPC revenue. This robust performance underscores the company's strategic focus on enhancing its service offerings while capitalizing on the growing demand for HPC solutions. As of January 31, 2025, Bit Digital held substantial treasury assets, including 768.7 BTC and 27,689.6 ETH, translating to a fair market value of around $78.7 million for BTC and $91.3 million for ETH.

Moreover, the Bitcoin equivalent of its overall digital asset holdings was approximately 1,663.0 BTC, worth about $170.3 million. With liquidity reaching $244.6 million, comprised of cash, USDC, and digital assets' market value, Bit Digital appears well-positioned for future investments and operational enhancements.

Colocation and Cloud Services Revenue

The company's colocation services garnered additional attention, with active revenues generated from 14 customers at its Tier-3 Enovum Data Center in January. Income from this segment was about CAD $757.8k (around USD $522.9k), indicative of solid demand for its colocation services.

In the rapidly expanding GPU cloud sector, Bit Digital's operations saw 268 servers with 2,144 GPUs generating revenue. This resulted in an estimated $4.4 million from unaudited GPU Cloud revenue in January. Perhaps most notably, Bit Digital secured a significant new contract for 464 Nvidia B200 GPUs, expected to yield $15 million in annualized revenue. This contract also includes a two-month prepayment, ensuring stable cash flow for the company.

Digital Asset Production and Mining Activity

Bit Digital's mining operations produced 28.7 BTC in January 2025, representing an 11.4% decline from the previous month. The decrease was primarily due to changes in the company's hosting portfolio and the ongoing redeployment of mining assets to newer sites. Additionally, the company's active hash rate decreased to approximately 1.6 EH/s, a reflection of the repositioning and retirement of older generation miners.

In January, 191 Bitmain Antminer S21 mining units were installed at a new hosting facility, enhancing the company's mining capacity. As of January 31, 2025, Bit Digital had 21,568 ETH actively staked, generating a blended annual percentage yield (APY) of around 3.6%—with staking rewards amounting to approximately 65.8 ETH throughout the month.

Company Transition and Future Events

Bit Digital transitioned to domestic issuer status under U.S. securities regulations as of January 1, 2025, which is expected to bolster transparency and investor confidence going forward. The company plans to participate in a Fireside Chat with H.C. Wainwright on February 12, aiming to provide further insights into its operations and strategies.

Conclusion

As the cryptocurrency and HPC sectors continue to evolve, Bit Digital, Inc. demonstrates its commitment to innovation and growth. With a strategic focus on enhancing operational efficiency, expanding service capabilities, and effectively managing digital assets, the company is well-prepared to navigate the challenges and opportunities that lie ahead. For more information about Bit Digital, visit bit-digital.com.