Bit Digital, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 15, 2023 at 05:00 pm EDT
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Bit Digital, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 9.04 million compared to USD 6.82 million a year ago. Net loss was USD 2.43 million compared to USD 17.76 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to USD 0.22 a year ago.
For the six months, sales was USD 17.3 million compared to USD 15.39 million a year ago. Net loss was USD 4.69 million compared to USD 22.1 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.3 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to USD 0.3 a year ago.
Bit Digital, Inc. is a holding company. The Company provides a platform for digital assets and artificial intelligence (AI) infrastructure headquartered in New York City. Its bitcoin mining operations are located in the United States, Canada, and Iceland. The Companyâs business line, Bit Digital AI, offers infrastructure services for artificial intelligence applications. Its facilities and mining platform are operating with the primary intent of accumulating bitcoin, which the Company may sell for fiat currency from time to time depending on market conditions and managementâs determination of its cash flow needs. The Company conducts its business through Bit Digital U.S.A. Inc., a Delaware corporation and its operating entity in the United States; Bit Digital Canada, Inc., its operating entity in Canada; Bit Digital Singapore Pte Ltd., a Singapore company, Bit Digital Hong Kong Limited and Bit Digital Strategies Limited, Hong Kong companies, and Bit Digital AI Inc.