Bitcoin miner Bit Digital reported a 39% increase in profits
Bit Digital has published a financial report for 2023. The Bitcoin miner earned 1507.3 BTC. This is 21% more than in 2022.
Mining company Bit Digital has published a report on financial results for 2023. According to the press release, as of December 31, 2023, the company had cash and cash equivalents in the amount of $18.2 million.
Fiscal Year 2023 Financial Highlights
— Bit Digital, Inc. NASDAQ:BTBT (@BitDigital_BTBT) March 18, 2024
? Total Revenue: $44.9 million (+39%)
? Total BTC Earned: 1,507.3 (+21%)
? Active Hash Rate: 2.50 EH/s (+103%)
? Total Liquidity: $81.2 million
? Balance Sheet: 0 debt
? Adjusted EBITDA: $12.4 million
? Read the full report:… pic.twitter.com/JMGr8jplC2
At the same time, the total liquidity of Bit Digital, defined as cash equivalents, USDC stablecoins, as well as the fair market value of digital assets amounted to $81.2 million.
The report says that the total assets of the bitcoin miner exceeded $189 million, and the share capital amounted to $152.7 million.
In 2023, the company earned 1507.3 BTC, or 21% more than in 2022. The company also received more than 360 ETH thanks to the Ethereum staking service.
Bit Digital's total revenue for fiscal year 2023 was $44.9 million. This is 39% more than in 2022. Most of the profits came from bitcoin mining, the company said in a statement.
In its report, Bit Digital said that it had made several changes to its portfolio during the year. She completed 2023 with six hosting partners.
"In 2023, we diversified geographically beyond North America and expanded our operations in Iceland. This is a region with environmentally friendly energy and a loyal state policy," the company's representatives said.
Source: https://incrypted.com/bitkoin-majner-bit-digital-soobshil-o-roste-pribyli-na-39/
