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CryptoNewsBreaks – Bit Digital Inc. (NASDAQ: BTBT) Announces Q2 2022 Financial Results

Bit Digital (NASDAQ: BTBT), a digital asset mining company headquartered in New York, has announced its unaudited financial results for the second quarter ended June 30, 2022. The company reported $6.5 million in bitcoin mining revenue and $0.3 million in revenue from ethereum mining among the financial highlights. According to management commentary, “In the second quarter of 2022, we managed to modestly increase bitcoin production on a sequential basis despite the previously announced interruptions to certain hosting partners’ operations. Fortunately, our team is well versed when it comes to overcoming logistical hurdles. Our rapid response included signing a new hosting agreement with Coinmint for 20 MW of primarily carbon-free power and executing a hash rate swap agreement with another miner, which provided for a 25% boost to our swapped hash rate. These actions helped propel our active hash rate to 1.06 EH/s by early July, which is nearly double where our active hash rate stood prior to the interruptions at the end of April.”

To view the full news release, visit https://ccw.fm/mml6D

About Bit Digital Inc.

Bit Digital is a digital assets mining company headquartered in New York City with mining operations in North America. For additional information, please contact IR@bit-digital.com or visit the company’s website at www.Bit-Digital.com.

About CryptoCurrencyWire (“CCW”)

CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to millions of social media followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.

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