Odaily News Nasdaq-listed company Bit Digital announced its Q2 2024 financial report, showing a total revenue of $25.7 million, a year-on-year decrease of 11.7%, mainly due to a reduction in Bitcoin mining revenue (down 58.8% year-on-year to $6.6 million) caused by rising network difficulty, the Halving in April 2024, and a decline in active Computing Power. The company is shifting its focus to Ethereum treasury and staking strategies, receiving approximately 166.8 ETH in staking rewards in Q2, with a staking scale of 21,568 ETH as of June 30, yielding an annualized effective return of 3.1%; as of August 11, the staking scale has increased to 105,015 ETH. CEO Sam Tabar stated that the company's goal is to establish one of the largest on-chain ETH balance sheets in the public market and generate stable staking income for shareholders. (TheBlock)
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Bit Digital's revenue in the second quarter decreased by 11.7% year-on-year, and the staking scale of Ethereum increased to 105,000 coins.
Odaily News Nasdaq-listed company Bit Digital announced its Q2 2024 financial report, showing a total revenue of $25.7 million, a year-on-year decrease of 11.7%, mainly due to a reduction in Bitcoin mining revenue (down 58.8% year-on-year to $6.6 million) caused by rising network difficulty, the Halving in April 2024, and a decline in active Computing Power. The company is shifting its focus to Ethereum treasury and staking strategies, receiving approximately 166.8 ETH in staking rewards in Q2, with a staking scale of 21,568 ETH as of June 30, yielding an annualized effective return of 3.1%; as of August 11, the staking scale has increased to 105,015 ETH. CEO Sam Tabar stated that the company's goal is to establish one of the largest on-chain ETH balance sheets in the public market and generate stable staking income for shareholders. (TheBlock)