Bit Digital, Inc. BTBT

Bit Digital, Inc. (NASDAQ: BTBT) is a leading digital asset production and high-performance computing (HPC) services company, committed to sustainability and innovation. With over 50,000 specialized Bitcoin miners across hosting locations in the U.S., Canada, and Iceland, Bit Digital has an operating hashrate of 2.46 EH/s as of July 2024. The company is focused on expanding its mining capacity, targeting a total fleet size of 6.0 EH/s by the end of 2024. Bit Digital is also a pioneer in integrating generative AI with its HPC services. The company provides specialized infrastructure for AI workstreams, leveraging over 2,000 NVIDIA H100 GPUs deployed in a purpose-built data center in Iceland. This diversification into AI services enhances Bit Digital’s revenue streams, with a goal of achieving $100 million in run-rate AI revenue by the end of 2024. Sustainability is at the core of Bit Digital’s operations, with approximately 86% of its energy usage sourced from carbon-free power. The company’s innovative "flywheel" strategy, which involves staking Ethereum to generate yield and reinvest in Bitcoin mining, exemplifies its commitment to maximizing efficiency and value for its stakeholders. With a strong balance sheet and zero debt, Bit Digital is well-positioned for continued growth and leadership in the digital asset and AI sectors.

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