According to Foresight News, Nasdaq-listed bitcoin mining company Bit Digital released a production update for December 2024, disclosing that bitcoin mining output in December was 32.4 BTC, a decrease of 27.8% from the previous month. The main reasons for the decline were 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 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 USD. As of December 31, 2024, the company held 742.1 bitcoins and 27,623.9 ethers, with fair values of approximately 69.3 million USD and 92.1 million USD, respectively. The company had cash and cash equivalents of 98.6 million USD, with total liquidity of approximately 260.4 million USD.
