Bit Digital Returns 39% of Mining Devices Back to Network After Moving From China

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Nasdaq-listed mining company Bit Digital has deployed 39.2% of cryptocurrency mining rigs in North America a few months after leaving China.

According to a SEC filing, as of March 15, the company had 10,462 Bitcoin miners and 712 Ethereum miners with a hashrate of 0.511 EH/s and 0.188 TH/s, respectively.

All installations have been in North America since November 17, and the company continues to work with partners to provide hosting.

As of 2021, Bit Digital had a fleet of 27,744 Bitcoin miners and 731 Ethereum mining devices with an estimated hashrate of 1.6 EH/s and 0.3 TH/s. 

In October, the company signed an agreement with crypto mining hardware maker Bitmain to buy 10,000 units of Antminer. This batch will supposedly add another 1 EH/s to the company’s computing power in the BTC network.

Bit Digital equipment is deployed at Compute North facilities in Nebraska and Texas. The hoster provided the installation of Bit Digital’s 20 MW mining facilities. Commissioning of an additional 28 MW is expected in the third or fourth quarter of 2022.

Another infrastructure partner of the firm, Blockfusion USA, has installed its 8 MW miners in data centers in New York State. During the summer, Bit Digital expects to increase its capacity to 35 MW.