NEW YORK, Dec. 22, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies, today announced the appointment of Amanda Cassatt, founder and Chief Executive Officer of Serotonin, to its Board of Directors effective January 1, 2026. Cassatt previously served as Chief Marketing Officer at Consensys, the leading Ethereum software company, building the infrastructure, tools, and pro ...

Decentralized Finance (DeFi) & Staking - Lido Finance introduces Decentralized Validator Vault (DVV) leveraging Distributed Validator Technology (DVT) [1] - DVV, implemented by Mellow Protocol, channels ETH and wETH into Lido staking modules [1] - Users receive Ethereum staking rewards and a share of incentive programs from Obol Collective, SSV Network, and Mellow Protocol [1] DAO Governance & Delegation - DAO delegates are seeking LDO delegation [1] - An example delegate address is provided: 0x3DDC7d25c7a1dc381443e491Bbf1Caa8928A05B0 [1] External Links - A link to vaults is provided: https://t.co/pYoCM7xNTr [1] - A link is provided: https://t.co/UVA7q7eWA5 [2]

Company Overview - Dynamix Corporation is a publicly-traded special purpose acquisition company (SPAC) incorporated in the Cayman Islands, focused on mergers and business combinations [6] - The company is led by experienced executives including CEO Andrejka Bernatova and CFO Nader Daylami [6] Business Combination - Dynamix Corporation announced a business combination with The Ether Reserve, LLC to form The Ether Machine, a strategic ether generation company [2][4] - The Ether Machine aims to deliver long-term, risk-adjusted yield through staking, restaking, and decentralized finance, with a focus on growing ether concentration per share [2][5] Ticker Symbol Change - The ticker symbols for Dynamix's common stock, units, and warrants will change from "DYNX," "DYNXU," and "DYNXW" to "ETHM," "ETHMU," and "ETHMW," respectively, effective August 27, 2025 [1][4] - This change is intended to facilitate a smooth transition for shareholders ahead of the business combination [3] Strategic Goals - The Ether Machine is expected to have one of the largest on-chain ETH positions of any public entity and will focus on generating and optimizing ETH-denominated returns [5] - The company plans to provide turnkey infrastructure solutions for enterprises and Ethereum-native builders [5] Approval and Timeline - The business combination has been unanimously approved by the boards of directors of both companies and is expected to close by the fourth quarter of 2025, pending shareholder approval [4]

Technology & Infrastructure - Kraken utilizes SSV Network's distributed validator technology across its Ethereum staking infrastructure [1] Cryptocurrency & Staking - The deployment enhances Kraken's Ethereum staking capabilities [1]

Core Viewpoint - Mega Matrix Inc. is strategically reinstating its Ethereum staking business and appointing Mr. Yaman Demir as Executive Director to enhance its digital asset expertise and shareholder value [1][2][5]. Group 1: Business Strategy Update - The Board of Directors has approved the purchase of Bitcoin and/or Ethereum as treasury reserve assets, and has decided to restart its Ethereum staking business after a suspension due to regulatory uncertainty [2]. - The company aims to earn staking rewards through solo staking, which can be reinvested into ETH or used for corporate purposes, thereby enhancing long-term shareholder value [2][4]. - The solo staking will be conducted exclusively through third-party certified, institutional-grade providers, ensuring the safeguarding of all ETH assets with established custodians [3]. Group 2: Appointment of Mr. Yaman Demir - Mr. Yaman Demir has been appointed as Executive Director, bringing extensive experience as a digital asset investor with a successful track record across over 20 crypto projects [5]. - His investment portfolio includes key sectors such as DeFi, NFT infrastructure, Layer1 networks, and stable coins, which aligns with the company's strategic focus on digital assets [5]. Group 3: Financial Position and Future Outlook - The company has purchased 40 ETH at a price of $2,462 per ETH as of July 2, 2025, indicating a proactive approach to building its digital asset portfolio [3]. - These initiatives reflect the company's commitment to strengthening its financial foundation and expanding into adjacent sectors, aiming to deliver consistent long-term value to shareholders [4].

Financial Data and Key Metrics Changes - Total revenue for 2024 was $108 million, a 141% increase from 2023 [48] - Adjusted EBITDA reached $73 million, compared to $12.4 million in 2023 [53] - Gross profit was $45.7 million, nearly threefold increase from 2023, with gross margins expanding approximately 500 basis points to 42.3% [51] Business Line Data and Key Metrics Changes - HPC revenue made up over 40% of full-year revenue and more than half of Q4 revenue, with cloud services generating $45.7 million in its first year of operations [7][49] - Colocation services contributed $1.4 million from October 12 through the year-end [49] - Bitcoin mining revenue was $58.6 million, up 32% year-over-year, but accounted for only 54% of total revenue in 2024, down from 98% in 2023 [41][48] Market Data and Key Metrics Changes - The company has seen significant demand for high-performance computing (HPC) infrastructure, exceeding current capacity [56] - The demand for GPUs is surging, with a strong customer pipeline and contracts representing nine-figure annual revenue [19][23] Company Strategy and Development Direction - The acquisition of Enovum vertically integrated data center operations and expanded customer base, enhancing infrastructure scaling capabilities [8][25] - The company is focused on a disciplined approach to GPU procurement and capital deployment to avoid excess inventory risk [20] - The strategic focus is on expanding both cloud services and colocation services to create a durable and diversified cash flow [59] Management's Comments on Operating Environment and Future Outlook - Management believes the current market sentiment does not accurately reflect the company's growth potential, particularly in HPC [57] - The company is actively exploring financing options for its HPC business to support growth without diluting equity [61][151] - Future demand for AI compute is expected to be driven by inference, with strategic developments in metropolitan areas to meet customer needs [40] Other Important Information - The company is debt-free and has approximately $98.9 million in cash and restricted cash as of December 31, 2024 [54] - Capital expenditures for 2024 totaled $94 million, primarily for GPU purchases and the acquisition of Montreal 2 [54] Q&A Session Summary Question: What is the current run rate for cloud services? - The current run rate is approximately $72 million with the addition of DNA Funds as a customer [66][67] Question: What is the expected revenue contribution from new GPU deployments? - The B200s are expected to start generating revenue in April, while the H200s' timeline is uncertain due to ongoing R&D [75] Question: What was the fourth-quarter revenue for the colocation business? - The colocation revenue recognized was $1.4 million from the date of acquisition [78] Question: Can you provide details on the 100-megawatt site under LOI? - The site has 24 megawatts of power available, with a path to 48 megawatts and discussions for an additional 100 megawatts by the end of 2025 [87] Question: How confident is the company in sourcing infrastructure equipment? - The equipment for upcoming deployments has been secured, with a large portion already delivered [115] Question: What is the company's strategy regarding Bitcoin mining? - The focus remains on optimizing the fleet and maintaining Bitcoin exposure in a capital-efficient manner, rather than expanding for growth's sake [45][124]