NEW YORK, Oct. 28, 2020 /PRNewswire/ -- 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."
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of Bit Digital, Inc., and its
subsidiary companies. All statements, other than statements of
historical fact included herein are "forward-looking statements."
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website at http://www.sec.gov. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking
statements.
For more information, please contact:
Erke Huang, CFO
Email: Ir@bit-digital.com
Phone: +1 347-328-3680
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SOURCE Bit Digital, Inc.