News

Bit Digital (BTBT) – November Production Numbers Released

Financial Services
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Thursday, December 07, 2023

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Increasing Production. During November, Bit Digital produced 142.7 BTC, a 24% increase from 111.6 BTC last month. The increase was primarily driven by the increase in the Company’s active hash rate, which was at 2.25 EH/s as of November 30, 2023 compared to 2.0 EH/s last month, and Bit Digital did not experience any maintenance outages.

Staking. Over on the staking side, Bit Digital had approximately 12,784 ETH actively staked in native and liquid staking protocols as of November 30, 2023. Approximately 12,384 ETH were natively staked and 400 ETH were deployed in liquid staking protocols as of that date. The Company earned a blended APY of approximately 4.35% on its staked ETH position for the month, and earned aggregate staking rewards of approximately 44.93 ETH.


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