Digital asset mining company, Bit Digital (NASDAQ: BTBT) BTC production increased by 31% in May, mined 113.2 BTC.
The increase in production was mainly due to a higher average active hash rate and an increase in transaction fees during the month, which were partially offset by a bitcoin network difficulty increase.
The company had a deployed fleet of 11,513 active bitcoin miners as of May 31, 2023. The company’s active hash rate was approximately 1.20 PE/s as of that date.
The cash holdings of BTC and ETH were 453.6 and 10,996.0 with a fair market value of approximately $12.3 million and $20.6 million, respectively, as of May 31, 2023. The equivalent BTC of our digital asset holdings as of May 31, 2023 was approximately 1,418.4, or ~$38.6 million.
Cash and cash equivalents of $15.4 million as at May 31, 2023.
The stock price rose 2.2%.
During the previous month, production fell by 28% due to the relocation of platforms.