Bit Digital mined about 30% less bitcoin in May

Public Companies • June 8, 2022, 1:15PM EDT

Bit Digital produced 53.4 bitcoin in May, representing a 29.9% decrease from the previous month.

During the same month, the company also mined 27.0 ETH, per an announcement on Wednesday.

The company held 793.6 BTC and 316.1 ETH as of May 31, with a fair market value of roughly $25.2 million and $0.6 million, respectively.

The company owned 33,376 Bitcoin miners and 731 Ethereum miners at the end of the month — representing an estimated total hash rate of 2.17 exahash per second and 0.3 terahash per second, respectively.

Of Bit Digital's currently owned mining fleet, 17.9% was deployed in North America as of May 31.

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Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).