Bit Digital (BTBT) has released an update.
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Bit Digital, Inc. has reported a significant revenue surge in the second quarter of 2024, with total revenue reaching $29.0 million, marking a 220% increase primarily due to its high performance computing services and higher bitcoin prices. Despite a decrease in bitcoins mined due to halving events and increased network difficulty, the company maintains a strong balance sheet with $191.9 million in liquidity. Looking ahead, Bit Digital is focusing on its high performance computing business and is cautious about expanding its bitcoin mining hash rate due to current market challenges.
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