Bit Digital, Inc. Announces Monthly Production Update for December 2022

<div> NEW YORK, Jan. 6, 2023 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: <a target="_blank" class="ticket-symbol" data-toggle="modal" href="#financial-modal" rel="noopener">BTBT</a>) ("Bit Digital" or the "Firm"), a digital asset mining firm headquartered in New York, introduced its unaudited bitcoin manufacturing and company updates for the month of December 2022. Company Highlights for December 2022 <ul type="disc"> <li>In December 2022, the Firm earned 130.0 bitcoins, a ten% lower in comparison with the prior month. The decline in manufacturing was primarily pushed by deliberate curtailment actions at sure internet hosting places.</li> <li>Treasury holdings of BTC and ETH had been 946.6 and eight,799.9 with a good market worth of roughly $15.7 million and $10.5 million, respectively, on December 31, 2022.</li> <li>The BTC equal[1] of our digital asset holdings as of December 31, 2022 (outlined as if all ETH, sETH-H, and USDC holdings had been transformed into BTC as of that date and added to our BTC holdings) was roughly 1,765.8.</li> <li>The Firm had money and money equivalents of $32.7 million as of December 31, 2022.</li> <li>The Firm owned 38,593 bitcoin miners and 730 Ethereum miners as of December 31, 2022, with an estimated most complete hash fee of two.7 Exahash ("EH/s") and 0.3 Terahash ("TH/s), respectively.</li> </ul> Miner Deployments 35% of the Firm's bitcoin mining fleet, or 13,595 bitcoin miners representing 1.23 EH/s, was actively hashing in North America as of December 31, 2022. About Bit Digital Bit Digital, Inc. is a bitcoin mining firm headquartered in New York Metropolis. Our mining operations are positioned in North America. For added info, please contact <a target="_blank" href="http://news.google.com/cdn-cgi/l/email-protection#93fae1d3f1fae7bef7faf4fae7f2ffbdf0fcfe" rel="nofollow noopener">[email protected]</a> or go to our web site at <a target="_blank" href="http://www.bit-digital.com/" rel="nofollow noopener">www.bit-digital.com</a>. Investor Discover Investing in our securities includes a excessive diploma of danger. Earlier than investing choice, it is best to rigorously take into account the dangers, uncertainties and forward-looking statements described beneath "Danger Components" in Merchandise 3.D of our most up-to-date Annual Report on Kind 20-F for the fiscal 12 months ended December 31, 2021. If any materials danger was to happen, our enterprise, monetary situation or outcomes of operations would possible endure. In that occasion, the worth of our securities might decline and you might lose half or your whole funding. The dangers and uncertainties we describe are usually not the one ones dealing with us. Extra dangers not presently identified to us or that we at the moment deem immaterial may impair our enterprise operations. As well as, our previous monetary efficiency will not be a dependable indicator of future efficiency, and historic tendencies shouldn't be used to anticipate outcomes sooner or later. Future adjustments within the network-wide mining issue fee or bitcoin hash fee may materially have an effect on the longer term efficiency of Bit Digital's manufacturing of bitcoin. Precise working outcomes will fluctuate relying on many elements together with community issue fee, complete hash fee of the community, the operations of our amenities, the standing of our miners, and different elements. Secure Harbor Assertion This press launch might comprise sure "forward-looking statements" referring to the enterprise of Bit Digital, Inc., and its subsidiary firms. All statements, aside from statements of historic truth included herein are "forward-looking statements." These forward-looking statements are sometimes recognized by means of forward-looking terminology reminiscent of "believes," "expects," or related expressions, involving identified and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are affordable, they do contain assumptions, dangers and uncertainties, and these expectations might show to be incorrect. Buyers shouldn't place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. The Firm's precise outcomes might differ materially from these anticipated in these forward-looking statements on account of a wide range of elements, together with these mentioned within the Firm's periodic reviews which can be filed with the Securities and Change Fee and out there on its web site at <a target="_blank" href="http://www.sec.gov/" rel="nofollow noopener">http://www.sec.gov</a>. All forward-looking statements attributable to the Firm or individuals performing on its behalf are expressly certified of their entirety by these elements. Aside from as required beneath the securities legal guidelines, the Firm doesn't assume an obligation to replace these forward-looking statements. <div> <div class="divOverflow"> <div class="table-responsive"> <table border="1" cellpadding="0" cellspacing="0" class="prnbcc" width=""> <tbody> <tr> <td class="prnpr2 prnpl2 prnvab prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1" colspan="1" rowspan="1" height="" width="">[1] "BTC equal" is a hypothetical illustration of the worth of our digital asset portfolio in bitcoin phrases. BTC equal is outlined as if all non-BTC digital property, comprised of ETH, sETH-H, and USDC, had been transformed into BTC as of December 31, 2022, and added to our present BTC steadiness. Conversion values are discovered utilizing the closing value on coinmarketcap.com. The closing value of ETH is used as a proxy for the value of sETH-H (receipt token) on a 1:1 foundation. </td> </tr> </tbody> </table> </div> </div> </div> SOURCE Bit Digital, Inc. <img alt="" src="https://rt.prnewswire.com/rt.gif?NewsItemId=CN79896&Transmission_Id=202301061002PR_NEWS_USPR_____CN79896&DateId=20230106" style="border:0px; width:1px; height:1px;"/> </div>