Bitcoin- And Ethereum-Related Stock Bit Digital Is Trading Higher: What's Happening?

Bit Digital Inc BTBT shares are trading higher by 6.45% to $1.65 Monday morning after the company reported a July production and corporate update.

What Happened?

In July 2022, the Bit Digital earned 142.5 bitcoins, an 111% increase compared to the prior month. The company also earned 0.5 ETH during July 2022 compared to 0.0 in the month ending June 30, 2022.

Bit Digital says treasury holdings of BTC and ETH were 889.1 and 2,176.9, with a fair market value of approximately $20.7 million and $3.7 million, respectively, on July 31, 2022.

Bit Digital says the company also owned 38,135 bitcoin miners and 731 Ethereum miners as of July 31, 2022, with an estimated maximum total hash rate of 2.7 Exahash ("EH/s") and 0.3 Terahash ("TH/s), respectively.

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According to data from Benzinga Pro, Bit Digital has a 52-week high of $20.74 and a 52-week low of $1.19.