Bit Digital Inc. /zigman2/quotes/203221927/composite BTBT +1.98% trumpets itself as the Bitcoin company dedicated to integrating resources globally for bitcoin and bitcoin mining.
It commenced bitcoin mining in early 2020 and currently operates 2,253.5 PH/S of Bitcoin Hash Rate across the entire Bitcoin network, making it one of the largest bitcoin mining companies listed on NASDAQ.
Bit Digital Inc. /zigman2/quotes/203221927/composite BTBT +1.98% most recently announced a group of hosting partnerships that will expand its operations across North America. Compute North and Link Global Technologies /zigman2/quotes/215097618/delayed CA:LNK +1.19% are the hosting companies that are partnering with Bit Digital. This strategic move will grant Bit Digital the ability to deploy greater Bitcoin mining power to North America.
According to the release, prior to the new agreement, Bit Digital hosted 2,100 miners with Compute North. With the updated partnership, the Company will move an additional 3,000 Bitmain S17+ miners with a hashrate of 73 THs per miner during Q2-2021. This expansion is expected to bring the total hash power hosted in the U.S. with Compute North to approximately 326 PHs within Q2.
Even in light of this news, BTBT has had a rough past week of trading action, with shares sinking something like -46% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -6%.
Bit Digital Inc. (NASDAQ BTBT) recently announced revenues from bitcoin mining business was $7.91 million for the quarter ended in December 2020. In that same report, the company noted that the number of bitcoins earned from bitcoin mining business was 739.51. The net loss from discontinued operations was $0.10 million on net income of $54 and earnings per share of $0.00, compared with the net loss of $3.0 million and loss per share of $0.20 for the same period last year.
DISCLAIMER: EDM Media LLC (EDM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. EDM is NOT affiliated in any manner with any company mentioned herein. EDM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. EDM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. EDM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed EDM has been compensated seven hundred fifty dollars for news coverage of the current press releases issued by ISW Holdings Inc by the company.
EDM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and EDM undertakes no obligation to update such statements.
EDM Media LLC
Is there a problem with this press release? Contact the source provider Comtex at firstname.lastname@example.org. You can also contact MarketWatch Customer Service via our Customer Center.