Bit Digital earned 119.4 bitcoins, a 10% increase compared to the prior month. Meanwhile, in March 2023, it continued to increase its mining capabilities. As the year progresses, we aim to deploy capital opportunistically and strategically across different avenues that we believe will enhance our long-term earnings power.” Maintaining a best-in-class balance sheet remains one of our top priorities in 2023. We remain debt-free and have no significant capex obligations, which provides us with appreciable flexibility in the current environment. Management also mentioned that it “finished 2022 with $34.0 million of cash and restricted cash and $29.2 million worth of digital assets as of December 31, 2022. In total, Bit Digital generated 294.3 ETH in 2022 but also suspended its ETH mining program thanks to the ETH blockchain switch. In a late-April update, the company reported total revenue of $32.3 million in 2022 while earning 1,247.5 BTC during the year. The company also mines digital assets and recently published its Fiscal 2022 results. Shares of Bit Digital are echoing a similar trend as CleanSpark. But like we’ve seen many times in the past with cryptocurrency-related companies, a shift in opinion can also mean volatile trends to the downside quickly. With bullish sentiment can come higher levels of volatility in the short term. Those hedging their bets against a real financial crisis may look at other assets less tied to centralized financial institutions. The critical thing to note with any Bitcoin stocks today is that the move is likely more sentiment based than anything else. It will be released on May 10th following the market’s close, beginning at 4:30 pm ET. One thing keeping the focus of those speculating on the prospects of CleanSpark is its upcoming earnings report. It expects to purchase 45,000 new Antminer S19 XP machines and will add to the 20,000 purchased in February. Last month, CleanSpark announced plans to double its mining capacity. – Top Penny Stocks To Buy? 3 To Watch With Unusual Options Action The company also remains on track to build out its Washington build-out. The company mines Bitcoin and, in its most recent mining update, reported that it minded 598 BTC in March. CleanSpark shares are following suit after recovering from a significant sell-off at the start of the week. (CLSK)Ĭryptocurrency-related stocks are heading higher thanks to the financial market’s bearish action. Today we’ll look at a few stocks that some traders are watching closely as the banking crisis contagion fear prevails on Tuesday. But it wasn’t only Bitcoin stocks making moves higher. As of this article, BTC prices are back above $28,700, with Ethereum closely behind, up roughly 2.7% from the open.Ĭryptocurrency stocks, including many tech penny stocks, caught a nice surge of sympathy sentiment in the stock market today. Shortly following the morning’s major sell-off, Bitcoin prices and the price of Ethereum began trading higher.
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