In the Q2 of 2021, Nasdaq-listed Bit Digital generated 562.9 BTC, according to its income statement. That is less than in the previous reporting period due to the migration of computing power from China.
According to the press release, on June 21, Bit Digital halted operations in China and accelerated the implementation of its North American migration strategy from October 2020.
As of June 30, the organization had 32,500 miners with a combined computing power of 1.92 EH/s, down from 2.26 EH/s in the first quarter. Bit Digital has sold or scrapped some of the equipment to buy more efficient devices in the “coming months.”
Over the past three months, the company has shipped 14,500 miners to ship to the United States. More than 20% of devices are already based in the States, with another 44.6% on the way or awaiting installation.
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The company entered into two new hosting agreements in North America, providing an additional 60 MW of capacity for its devices. Bit Digital stressed that this is enough for the relocation of the park - the migration is expected to be completed in the third quarter of 2021.
Most of the Bit Digital hardware (15,072) is used by the Whatsminer M21S MicroBT miners. In Q2, the company acquired more than 3,500 devices, 1,678 of which are already installed in North America.
Bit Digital (BTBT) shares closed the session on July 13 at $ 5.28. Over the past month, the company’s quotes fell by 31%.