Bit Digital reports drop in quarterly earned bitcoins amid redeployment and miner migration

Bit Digital (NASDAQ:BTBT) rallies 15% higher premarket after it reported 39.2% of its currently-owned fleet, or 10,462 bitcoin miners and 712 Ethereum miners representing 0.511 Exahash and 0.188 Terahash respectively, was deployed in North America. As of Dec.31, 2021, the company indicates 27.8% of its fleet or 7,710 bitcoin miners representing 0.457 EH/s was deployed in North America. The company owned 27,744 bitcoin miners and 731 Ethereum miners as of Dec. 31, 2021, with an estimated maximum total hash rate of 1.6 EH/s and 0.3 TH/s, respectively. During the quarter, the company purchased 731 Ethereum miners on the spot market, majority of which were deployed subsequent to year end. It earned 240.57 bitcoins during the quarter compared to the 248.36 bitcoins during the prior quarter (reported in November); drop was due to the miner migration and redeployment program. Treasury holdings of BTC were 808.2, with a fair market value of ~$37.4M on Dec. 31, 2021.