Bit Digital, Inc. Announces Monthly Production Update for November 2024

Core Insights - Bit Digital, Inc. reported its unaudited digital asset production and HPC services revenue for November 2024, highlighting significant operational metrics and financial data [1] Corporate Highlights - As of November 30, 2024, the company operated 266 servers with 2,128 GPUs generating revenue from Bit Digital AI contracts, earning approximately $4.3 million in GPU Cloud revenue for the month [2] - The company's treasury holdings included 813 BTC and 27,563.3 ETH, with a fair market value of approximately $78.4 million and $102.1 million respectively [2] - The BTC equivalent of digital asset holdings was approximately 1,878.4 BTC, valued at around $181.2 million [2] - Cash and cash equivalents totaled $151.3 million, with total liquidity estimated at approximately $332.5 million [2] High-Performance Computing (HPC) Data Center Highlights - The company had 13 customers generating revenue at its Tier-3 Enovum Data Center as of November 30, 2024 [3] - HPC data center colocation revenue was approximately CAD $705.2k, equivalent to about USD $503.5k for November 2024 [3] GPU Cloud Highlights - On November 14, 2024, Bit Digital signed a term sheet to supply 512 H200 GPUs to a new customer for at least six months, with an approximate contract value of $5.0 million [4] - A separate term sheet was executed on the same day for 576 H200 GPUs over a twelve-month period, representing a total contract value of approximately $10.1 million [4] - An MSA was executed for 64 H200 GPUs on a month-to-month basis, with an additional purchase order for 128 H200 GPUs, leading to an annual revenue of approximately $3.6 million [4] Digital Assets Highlights - In November 2024, the company produced 44.9 BTC, reflecting a 14.0% decrease compared to the previous month [5] - The active hash rate was approximately 2.51 EH/s, showing a 3.3% increase from the prior month [5] - The company staked approximately 21,568 ETH in native staking protocols, earning a blended APY of approximately 3.4% and aggregate staking rewards of about 59.9 ETH during November 2024 [5] Upcoming Events - The company will participate in the Northland Growth Conference on December 12, 2024 [6]