Bit Digital Inc (NASDAQ:BTBT) reported growth in both digital asset production and revenue from AI services during the month of October.
The company generated approximately $4.3 million in revenue from its initial AI contract, supported by 256 active servers dedicated to HPC services as of October 31, 2024.
Bit Digital also reported a 1.4% month-over-month increase in bitcoin production, mining 52.2 BTC in October.
As of the end of October, Bit Digital’s active hash rate reached approximately 2.43 exahashes per second (EH/s), reflecting its continued investment in computational capacity for digital asset mining.
Treasury holdings included 781.2 BTC, valued at $54.8 million, and 27,503.4 ETH, valued at approximately $69.2 million. Bit Digital’s total BTC-equivalent holdings reached around 1,768.6 BTC, or roughly $124.2 million.
The company reported a cash position of $79.8 million, with total liquidity — which includes cash, cash equivalents, and the fair market value of digital assets — of approximately $203.9 million as of October 31.
In the area of proof-of-stake (PoS) activities, Bit Digital staked 21,568 ETH in native protocols, earning a blended annual percentage yield (APY) of 3.4% for the month. Its staking operation contributed approximately 62.2 ETH in rewards, adding to the company's digital asset portfolio.