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BIT DIGITAL, INC.

(BTBT)
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Bit Digital in New Bitcoin Co-Mining Deal With Digihost Technology

07/26/2021 | 05:38am EDT

By Chris Wack

Bit Digital Inc. said it and Digihost Technology Inc. have entered into a second strategic co-mining agreement where Digihost will provide certain premises to Bit Digital for the operation of a 100 megawatt bitcoin-mining system for a term of two years.

Bit Digital said the expanded collaboration is expected to enable an additional increase in hashrate of 2 exahashes between the companies, and a total increase in hashrate between the two companies of 2.4 EH including the initial collaboration agreement that was previously reported June 10.

Digihost would provide power and management services for the operation of the miners. In consideration for these services, after paying Digihost a competitive rate for power, Digihost and Bit Digital would participate in a profit-sharing arrangement based on a fixed distribution formula. It is expected that the miners would be delivered and installed beginning in January 2022.

Bit Digital shares were up 16%, to $4.93, in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

07-26-21 0738ET

Stocks mentioned in the article
ChangeLast1st jan.
BIT DIGITAL, INC. -2.71% 9.2179 Delayed Quote.-56.82%
DIGIHOST TECHNOLOGY INC. -4.10% 1.87 Delayed Quote.96.97%
All news about BIT DIGITAL, INC.
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09/13BIT DIGITAL : HC Wainwright Investor Conference Bit Digital, Inc. Management Presentation ..
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09/07BIT DIGITAL : Blockfusion Sign Co-Mining Agreement for 35 Megawatt Bitcoin Mining System
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09/07BIT DIGITAL : and Blockfusion Announce 35 Megawatt Strategic Partnership
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08/31BIT DIGITAL : Mining services Agreement (Form 6-K)
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More news
Analyst Recommendations on BIT DIGITAL, INC.
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Financials (USD)
Sales 2021 122 M - -
Net income 2021 62,0 M - -
Net Debt 2021 - - -
P/E ratio 2021 7,57x
Yield 2021 -
Capitalization 520 M 520 M -
Capi. / Sales 2021 4,27x
Capi. / Sales 2022 5,20x
Nbr of Employees 6
Free-Float 79,6%
Chart BIT DIGITAL, INC.
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Bit Digital, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends BIT DIGITAL, INC.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 9,46 $
Average target price 14,00 $
Spread / Average Target 48,0%
EPS Revisions
Managers and Directors
Zhaohui Deng Chairman & Chief Executive Officer
Erke Huang Chief Financial Officer & Director
Min Hu Independent Director
Xiong Yan Independent Director
Ichi Shih Independent Director
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