Bit Digital, a bitcoin mining firm, experienced a decline in BTC mining output in December 2024. However, the company managed to increase its BTC and ETH holdings through diversification in both assets. The decline in mining output was attributed to custodial portfolio modifications, redeployments of mining equipment, and retirement of older machines. Despite this, Bit Digital held 742.1 BTC and 27,623.9 ETH with a combined value of $161.4 million in digital assets. The company also engaged in strategic diversification by exchanging bitcoin mining rewards for ethereum, staking ETH to earn yield, and reinvesting the yield into bitcoin miners.



Other News from Today