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Bit Digital announces its second quarter financial report: total revenue of 25.7 million USD, Mining revenue of 6.6 million USD.
Foresight News reports that Nasdaq-listed Bit Digital, Inc. (stock code BTBT) announced its second quarter financial results. Total revenue was $25.7 million, a decrease of 11.7% year-on-year; net income was $14.9 million, compared to a net loss of $12 million in the same period last year; digital asset mining revenue was $6.6 million, down 58.8% year-on-year; cloud service revenue was $16.6 million, an increase of 32.8% year-on-year; total service revenue was $1.7 million; ETH staking revenue was $400,000, down 2.3% year-on-year. As of June 30, cash and cash equivalents amounted to $181.2 million, and digital assets were $91.2 million. As of August 11, it held a total of 121,076 ETH, valued at approximately $511.5 million.