Bit Digital Inc (NASDAQ:BTBT) told investors that during May it had 256 servers actively generating revenue from its Bit Digital AI Contract, which earned an estimated $4.2 million in unaudited revenue for the month.
During May, the Bitcoin miner said it produced 63.3 Bitcoin. This was down 47% from the previous month due to the reduction of Bitcoin block rewards following the Bitcoin halving event in April.
Its hash rate was approximately 2.54 EH/s as of May 31, a decrease from April due to voluntary curtailment activity.
It exited the month with treasury holdings of Bitcoin and Ethereum of 1,038.4 and 20,508.3, valued at approximately $70.1 million and $77.1 million respectively.
The Bitcoin equivalent of its digital holdings at the month-end was approximately 2,188.9 Bitcoin or a market value of $147.7 million.
It also finished the month with cash and cash equivalents of $47.3 million and total liquidity of approximately $195 million.
Bit Digital has Bitcoin mining operations in the US, Canada, and Iceland. Through its Bit Digital AI business unit, it offers specialized cloud infrastructure services for AI applications.