Bit Digital (BTBT) has released an update.
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Bit Digital, Inc. reported a notable 96% revenue increase to $22.7 million in Q3 2024, buoyed by the launch of its high-performance computing services, despite a downturn in bitcoin mining revenue. The company also announced significant operational developments, including a $700 million partnership with Boosteroid and the acquisition of Enovum Data Centers, which will enhance its computing infrastructure. However, challenges such as the loss of colocation services at Coinmint’s New York site and increased competition in bitcoin mining remain.
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