Bit Digital reports March Bitcoin production up 6% from February

Bit Digital reported its unaudited digital asset production and corporate updates for March 2024. In March 2024, the Company produced 136.4 BTC, a 6% increase compared to the prior month. Active hash rate was approximately 2.76 EH/s as of March 31, 2024. Treasury holdings of BTC and ETH were 956.6 and 16,032.0 with a fair market value of approximately $68.2M and $58.5M, respectively, on March 31, 2024. The BTC equivalent of digital asset holdings as of March 31, 2024, was approximately 1,790.2 or approximately $127.7M. The company had cash and cash equivalents of $34.9M as of March 31, 2024. The company had approximately 3,008 ETH actively staked in native staking protocols as of March 31, 2024. The decrease relative to the prior month was due to the company changing its provider for native staking solutions.Bit Digital earned a blended APY of approximately 2.8% on its staked ETH position for the month of March 2024 and aggregate staking rewards of approximately 29.0 ETH during March 2024. As of March 31, 2024, the company had 251 servers actively generating revenue from its initial Bit Digital AI contract. The company earned an estimated $4.3M of unaudited revenue from this contract during the month of March 2024.