NEW YORK, Oct. 21, 2021 /PRNewswire/ -- Bit Digital, Inc.
(Nasdaq: BTBT) ("Bit Digital" or the "Company"), a bitcoin mining
company headquartered in New York
with one of the largest currently-owned fleets among US listed
bitcoin miners, was the focus of an in-depth video report by The
Wall Street Journal on its operations and efforts to utilize carbon
neutral energy sources for mining. The video was released on
October 14, 2021.
The video recording is available
below:
"We applaud The Wall Street Journal's coverage of the important
topic of sustainability in bitcoin mining operations, and for
highlighting some of our efforts in this regard," commented CSO Sam
Tabar.
Pursuant to the terms of the strategic agreement between
BlockfusionUSA, Inc ("Blockfusion"), Blockfusion, whom are sole
owners of the facility, provides certain premises and services to
Bit Digital for the operation of a 35 MW bitcoin mining system for
a term of 2 years, with automatic one-year renewals. During the
term and for twelve (12) months thereafter, Bit Digital shall have
a right of first refusal ("ROFR") to match any bona fide offer from
a third party to finance or acquire securities and/or assets of
Blockfusion, including this facility.
Consistent with the Bit Digital's leadership in sustainability,
the energy used by the mining system is expected to be generated
primarily from zero carbon emission sources.
About Bit Digital, Inc.
Bit Digital, Inc. is a sustainability-focused bitcoin mining
company headquartered in New York
City. Bit Digital's mining operations are located in
the United States and Canada.
About Blockfusion USA, Inc.
Blockfusion USA, Inc., founded
in 2019 and privately held, is a sustainability-focused owner and
operator of one of the largest crypto mining facilities in the
northeastern United States,
powered primarily by carbon free energy.
Investor Notice
Investing in our securities involves a high degree of risk.
Before making an investment decision, you should carefully consider
the risks, uncertainties and forward-looking statements described
under "Risk Factors" in Item 3.D of our most recent Annual Report
on Form 20-F for the fiscal year ended December 31, 2020. If any material risk was to
occur, our business, financial condition or results of operations
would likely suffer. In that event, the value of our securities
could decline and you could lose part or all of your investment.
The risks and uncertainties we describe are not the only ones
facing us. Additional risks not presently known to us or that we
currently deem immaterial may also impair our business operations.
In addition, our past financial performance may not be a reliable
indicator of future performance, and historical trends should not
be used to anticipate results in the future. There can be no
assurance that miner shipments will be delivered on the expected
delivery date, due to possible logistic delays or other factors
beyond our control. Future changes in the network-wide mining
difficulty rate or bitcoin hashrate, as well as other factors
beyond our control, may also materially affect the future
performance of Bit Digital's production of bitcoin. Additionally,
all discussions of financial metrics assume mining difficulty rates
as of August 2021. See "Safe Harbor
Statement" below.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of Bit Digital, Inc., and its
subsidiary companies. All statements, other than statements of
historical fact included herein are "forward-looking statements."
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects," or
similar expressions, involving known and unknown risks and
uncertainties. Forward-looking statements in this press release
include but are not limited to information about hashrate
expansion, potential for the Bit Digital's growth, potential for
future usage of renewable or carbon-free power sources, and the
business goals and objectives of Bit Digital. Although Bit Digital
believes that the expectations reflected in these forward-looking
statements are reasonable, they do involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect.
Investors should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in Bit Digital's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website at http://www.sec.gov. All
forward-looking statements attributable to Bit Digital or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
Bit Digital does not assume a duty to update these forward-looking
statements.
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SOURCE Bit Digital, Inc.