CoinVoice has recently learned that, according to the official website, Nasdaq-listed Bitcoin mining company Bit Digital released its production update for December 2024, disclosing that the Bitcoin mining output in December was 32.4 BTC, a decrease of 27.8% compared to the previous month. The main reasons for the decline are changes in the company's hosting portfolio, ongoing 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 is approximately 1.8 EH/s.
In December 2024, the company's unaudited GPU cloud computing business generated total revenue of approximately $4.5 million. As of December 31, 2024, the company held 742.1 Bitcoins and 27,623.9 Ethereum, 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 Bitcoin, are approximately equal to 1,731.8 BTC, 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. [Original link]
