Bit Digital earned 108.2 bitcoins in February, down 19% from prior month

Bit Digital announced its unaudited bitcoin production and corporate updates for the month of February 2023. In February 2023, the company earned 108.2 bitcoins, a 19% decrease compared to the prior month. The decrease in production was primarily driven by fewer days during the month and an increase in network difficulty. 13,645 bitcoin miners representing 1.30 EH/s, was actively hashing in North America as of February 28, 2023. Treasury holdings of BTC and ETH were 696.5 and 7,332.6 with a fair market value of approximately $16.1M and $11.8M, respectively, on February 28, 2023. A portion of BTC and ETH treasury holdings were sold during the month to fund strategic investments and for general corporate purposes. The BTC equivalent of the company’s digital asset holdings as of February 28, 2023 was approximately 1,441.6, or approximately $33.4M. The company had cash and cash equivalents of $33.6M as of February 28, 2023. The company did not purchase or sell any miners during the month.