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CryptoIntelligence 2024-03-21 07:12:00

Bit Digital Reports 39% Earnings Surge in 2023, Expands into AI Technology and Diversifies Globally

Bit Digital Reports 39% Earnings Surge in 2023, Expands into AI Technology and Diversifies Globally

In 2023, Bit Digital, a prominent Bitcoin mining company listed on the Nasdaq, reported a notable increase in its earnings, with a 39% rise to $44.9 million compared to the previous year. The firm disclosed that it mined 1,507.3 BTC during the year, marking a 21% increase from 2022, valued at approximately $97 million at the current market rates. This growth in revenue and mining output was attributed to an enhanced active hash rate, although challenges such as increased network difficulty slightly offset these gains. By the end of 2023, Bit Digital’s total assets amounted to $189.3 million, with shareholders’

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