Bit Digital Inc (NASDAQ:BTBT) announced that it generated approximately $4.3 million in unaudited revenue from 256 servers under its initial Bit Digital AI contract during the month of August.
The sustainable Bitcoin miner and AI infrastructure provider said it incurred a service credit to a client of $579,000 related to downtime experienced during an equipment upgrade for the period of February to June 2024.
During August, Bit Digital produced 53.4 Bitcoin, down 11.7% from the previous month.
It achieved an active hashrate of 2.43 EH/s as of August 31, 2024.
The company excited August with treasury holdings of 682.4 Bitcoin and 27,331 Ethereum with market values of approximately $40.2 million and $68.7 million respectively.
The Bitcoin equivalent of its digital asset holdings as of the month-end was approximately 1,858.3 Bitcoin or $109.6 million.
Bit Digital had around 21,568 Ethereum staked in native staking protocols as of August 31, 2024, earning a blended APY of 3.1% for the month.
In August, the company received 56.6 Ethereum in total staking rewards.
As of the end of the month, Bit Digital held cash and cash equivalent of $106.9 million and total liquidity of approximately $216.5 million.