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By Stephen Nakrosis
Bitcoin mining firm Bit Digital Inc. on Friday stated bitcoin mining income in 2021 grew to $96.1 million from $21.1 million in fiscal yr 2020.
The corporate additionally reported web revenue of $4.9 million in fiscal yr 2021, in contrast with a $1.9 million loss within the year-ago interval. Bit Digital stated it earned 2,065.3 bitcoins from its bitcoin mining enterprise final yr, in contrast with 1,510.2 in fiscal yr 2020.
Bit Digital stated it efficiently accomplished the migration of its miner fleet from China to North America final yr, with the fleet arriving in North America on Nov. 17. As of March 15, the corporate stated it deployed about 39% of its fleet within the U.S. and is focusing on 100% redeployment for the second half of this yr.
Bitcoin was buying and selling round $45,800 originally of this yr, and lately traded round $40,000, in accordance with FactSet.
Write to Stephen Nakrosis at [email protected]
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