2023-06-06 02:35:53 ET
Digital asset mining company, Bit Digital ( NASDAQ: BTBT ) BTC production scaled 31% in May, mined 113.2 BTC .
The increase in production was primarily driven by a higher average active hash rate and an increase in transaction fees during the month, which were partially offset by an increase in the Bitcoin network difficulty.
The company had a deployed fleet of 11,513 active bitcoin miners as of May 31, 2023. The company's active hash rate was ~1.20 EH/s as of that date.
Treasury holdings of BTC and ETH were 453.6 and 10,996.0 with a fair market value of ~$12.3M and $20.6M, respectively, on May 31, 2023. The BTC equivalent of our digital asset holdings as of May 31, 2023 was ~1,418.4, or ~$38.6M.
Cash and cash equivalents of $15.4M as of May 31, 2023.
The stock price climbed 2.2%.
During the previous month, production dropped 28% due to relocation of rigs.
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Bit Digital May production surges 31% in May, stock price up 2%