PANews reported on January 9 that Nasdaq-listed Bitcoin mining company Bit Digital released a production update for December 2024 on its official website, which disclosed that Bitcoin mining output in December was 32.4 BTC, a decrease of 27.8% from the previous month. The main reasons for the decrease were changes in the company's custody portfolio, the continuous redeployment of mining assets to new locations, and the retirement of older generation mining machines. 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 business was approximately $4.5 million. As of December 31, 2024, the company held 742.1 Bitcoins and 27,623.9 Ethereums, with fair values of approximately $69.3 million and $92.1 million, respectively. As of December 31, 2024, the company held digital assets worth approximately $161.8 million in Bitcoin. In December 2024, the company had $98.6 million in cash and cash equivalents and total liquidity of approximately $260.4 million.
