TechFlow news, January 9 — According to its official website, NASDAQ-listed bitcoin mining company Bit Digital released its December 2024 production update. The report disclosed that the company mined 32.4 BTC in December, a 27.8% decrease from the prior month. The decline was primarily due to changes in the hosted portfolio, ongoing redeployment of mining assets to new locations, and the retirement of older-generation mining equipment. As of December 2024, Bit Digital's active hash rate was approximately 1.8 EH/s.
In December 2024, the company's unaudited total revenue from GPU cloud computing operations was approximately $4.5 million. As of December 31, 2024, the company held 742.1 bitcoins and 27,623.9 ether, with fair values of approximately $69.3 million and $92.1 million, respectively. As of December 31, 2024, the company’s digital asset holdings were equivalent to approximately 1,731.8 BTC, with a value of about $161.8 million. In December 2024, the company held $98.6 million in cash and cash equivalents, with total liquidity of approximately $260.4 million.
