Bit Digital, Inc. (Nasdaq: BTBT), the Nasdaq listed Bitcoin mining company headquartered in New York, released the first half 2020 financial results report at 9:00 EST on October 19, 2020. The report showed the Company has earned 949.51 bitcoins since its principal business shifted to bitcoin mining in February 2020.
Highlights from the first half 2020 financial results include as follows:
1) Bit Digital (NASDAQ: BTBT) has reached 1250 PH/s of bitcoin hash rate capacity and ranked one of the largest Nasdaq listed bitcoin mining company in terms of the computer power.
2) Bit Digital launched its bitcoin mining operation in February 2020. As of the date of the report, 22,869 miners have generated an aggregate of 949.51 bitcoins, approximately $10.08 million.
3) Bit Digital’s bitcoin mining business rapidly expanded. As of June 30, 2020, the bitcoin mining business has generated over $690,000 in revenue.
4) Bit Digital disposed of its peer-to-peer lending business and car rental operations in PRC.
The full first half 2020 financial results report is available on https://bit-digital.com/financial-information and showed that after the shift of the main business of Bit Digital’s (NASDAQ: BTBT) to bitcoin mining, the Company swiftly accumulated computing power while rapidly expanded operations and miners. Erke Huang, the Chief Financial Officer of the Company, said, “The bitcoin mining industry is becoming a sought for alternative asset allocation, and we’re looking forward to making bitcoin mining business more accessible to the public and investors.”
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