PANews reported on January 9 that Bit Digital, a Nasdaq-listed bitcoin mining company, released a production update for December 2024 on its official website, disclosing that 32.4 BTC were mined in December, a decrease of 27.8% compared to the previous month. The main reasons for the decline were changes in the company’s hosting portfolio, continuous redeployment of mining assets to new locations, and the retirement of older generation mining machines. As of December 2024, Bit Digital's active hash rate was approximately 1.8 EH/s.
In December 2024, the company's unaudited total revenue from GPU cloud computing business was approximately $4.5 million. As of December 31, 2024, the company held 742.1 bitcoins and 27,623.9 ethers, with fair values of approximately $69.3 million and $92.1 million, respectively. As of December 31, 2024, the company's digital assets, valued in bitcoins, were approximately equivalent to 1,731.8 bitcoins, worth about $161.8 million. In December 2024, the company had cash and cash equivalents of $98.6 million, with total liquidity of approximately $260.4 million.
