NEW YORK, Oct. 4, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced its unaudited digital asset production, HPC services revenue, and corporate updates for the month of September 2024.

Corporate Highlights for September 2024

• The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of September 30, 2024. The Company earned approximately $4.2 million of unaudited revenue from this contract during the month of September 2024.
• In September 2024, the Company produced 51.5 BTC, a 3.6% decrease compared to the prior month.
• The Company’s active hash rate was approximately 2.43 EH/s as of September 30, 2024.
• Treasury holdings of BTC and ETH were 731.3 and 27,388.9 with a fair market value of approximately $46.3 million and $71.3 million, respectively, on September 30, 2024.
• The BTC equivalent^[1] of our digital asset holdings as of September 30, 2024, was approximately 1,863.0 or approximately $118.0 million.
• The Company had cash and cash equivalents of $104.0 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $222.0 million, as of September 30, 2024.

Proof-of-Stake Highlights

• The Company had approximately 21,568 ETH actively staked in native staking protocols as of September 30, 2024.
• Bit Digital earned a blended APY of approximately 3.3% on its staked ETH position for the month of September 2024.
• The Company earned aggregate staking rewards of approximately 57.9 ETH during September 2024.

Upcoming Events

• AIM Summit Dubai Conference, Dubai, United Arab Emirates on October 21-22

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers specialized cloud-infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

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, 2023. 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. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

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. Although the Company 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 the Company’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 the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

^[1] “BTC equivalent” is a hypothetical illustration of the value of our digital asset treasury holdings in bitcoin terms. BTC equivalent is defined as if all non-BTC digital assets, comprised of ETH, and USDC, were converted into BTC as of September 30, 2024, and added to our existing BTC balance. Conversion values are found using the closing price on coinmarketcap.com. Our digital asset portfolio excludes digital assets invested in a third-party managed fund.

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SOURCE Bit Digital, Inc.

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NEW YORK, Oct. 4, 2024 /PRNewswire/ — Get ready for one of the most influential Web3 events of the year— BCrypt Conference 2024! Hosted by CSharpCorner, this groundbreaking event promises to shape the future of blockchain, Web3, and AI. Taking place from October 16-18, the conference will bring over 50,000 participants from across the globe virtually and in person to the Radisson Blu Kaushambi, Delhi. This year’s event is set to be a defining moment for decentralized technologies, with visionary leaders ready to ignite conversations that will drive the industry forward.

About BCrypt 2024

Presented by The Sharp Economy, BCrypt is India’s premier event for exploring the cutting edge of blockchain and Web3, BCrypt will bring together industry leaders, visionaries, and technology enthusiasts for keynotes, panels and sessions such as:

• Nikil Viswanathan , Co-Founder of Alchemy : As the driving force behind one of the leading blockchain developer platforms, Nikil will share his insights into the future of blockchain infrastructure and how Alchemy is shaping the Web3 ecosystem.
  
• Miko Matsumura , Managing Partner at gumi Cryptos Capital : A visionary in the blockchain investment space, Miko Matsumura will deliver a keynote address on emerging trends in cryptocurrency and decentralized finance, drawing from his extensive experience as a venture capitalist and thought leader in the industry.
  
• Phillip Shoemaker , CEO/Executive Director of Identity.com : With a wealth of experience in digital identity and blockchain, Phillip Shoemaker will discuss the role of decentralized identity solutions in empowering secure and privacy-focused online interactions.

Top industry players from Ava Labs, SolanaU, and Capgemini will also lead discussions on topics like the role of AI in decentralized systems, Web3 development, tokenomics, Web3 security, crypto regulations, and the virtual economy of the metaverse.

BCrypt + The Sharp Economy: Shaping the Future of Web3 Talent

The Sharp Economy is building the next generation of Web3 talent. Powered by the The Sharp Token (SHARP), this ecosystem allows developers to learn, earn, and grow. Unlike traditional platforms like GitHub or Stack Overflow, The Sharp Economy rewards contributions with real, redeemable tokens—not just badges. This creates a vibrant community where learning translates directly into opportunities and resources, making it the go-to platform for developers to advance their careers.

About CSharpCorner

With over three million members, CSharpCorner is the world’s leading online community for developers, offering unparalleled resources to keep them at the forefront of the ever-evolving tech landscape.

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SOURCE CSharp Inc

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KUALA LUMPUR, Malaysia, Oct. 4, 2024 /PRNewswire/ — EBSWARE, a leading financial technology firm is excited to announce the official launch of its innovative multi-asset online trading platform – EBSWARE xTrader. The platform offers traders and investors the ability to engage in a wide range of financial markets, including crypto currencies, Forex, and global equity.

As the demand for diversified investment portfolios grows, xTrader is designed to cater to both beginner and advanced traders who seek seamless access to multiple asset classes in one user-friendly interface.

Key Features of EBSWARE’s xTrader:

1. Multi-Asset Trading Capabilities: EBS xTrader supports a broad spectrum of tradable assets, including Crypto Currencies, Forex and Global Equity.
   
2. Advanced Security Measures: EBSWARE prioritizes the security of its users with cutting-edge encryption technology and multi-factor authentication to ensure that trading activities remain safe from cyber threats.
   
3. Real-Time Data and Analytics: Users benefit from real-time market data, advanced charting tools, and personalized analytics, allowing them to make informed trading decisions.
   
4. 24/7 Customer Support: The platform features around-the-clock support to assist traders with any questions or concerns, always ensuring a smooth trading experience.

xTrader comes at a time when global markets are becoming increasingly interconnected, and investors are seeking easy access to diverse markets and asset classes.

“The financial markets are evolving rapidly, and we want to offer our clients a sophisticated platform that meets the demands of today’s dynamic trading environment,” said William Douglas, CEO of EBSWARE. “With xTrader, users can now easily diversify their portfolios by trading Crypto Currencies, Forex, and Equity from a single account.”

EBSWARE leverages state-of-the-art technology to deliver a secure, efficient, and high-performing trading platform. The firm has invested heavily in cloud infrastructure to ensure the platform’s stability and speed, even during periods of high market volatility.

“Crypto Currencies are increasingly becoming an integral part of global finance,” said Thomas Lee, Chief Technology Officer of EBSWARE. “Our platform recognizes this trend and provides traders with the flexibility to access both traditional assets and cryptocurrencies, making it easier for them to navigate and capitalize on this evolving market.”

About EBSWARE

EBSWARE is a leading financial technology and service provider in Fintech industry. Specializes in building and growing Stock/FX brokerages and Cryptocurrency Exchanges.

For more information about EBSWARE and to sign up for the new trading platform, please visit trader.ebsware.com.

Media Contact:
Vivian Wong
1-680-888-3690
384211@email4pr.com 

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SOURCE EBSWARE Software Inc

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Kamala Harris Crypto Policy is gaining traction as billionaire investor Mark Cuban voices his support for her proactive engagement with the digital asset community. Throughout her 2024 campaign, Kamala Harris has emphasized her willingness to connect with leaders in the cryptocurrency space, setting her apart from the Biden administration’s more stringent regulatory stance. This move aims to resonate with the crypto community, which feels underrepresented by existing policies.

Mark Cuban Praises Kamala Harris’ Engagement with Crypto Community

In a recent interview with Notus, Mark Cuban commended Vice President Kamala Harris for seeking out discussions with key figures in the crypto industry. Unlike the regulatory-focused Biden administration, Harris appears to be building bridges with those involved in emerging technologies such as artificial intelligence and digital currencies.

Cuban described Harris’ attitude as a fresh and open perspective, noting that it addresses the concerns of a sector wary of government interference. Her approach stands in contrast to Donald Trump’s highly polarized position on U.S. politics, where Cuban suggests that more extreme views may hinder the potential for a unified approach to crypto policy. “You can’t take extreme positions if you want to bring a country together,” Cuban remarked on October 3rd in an interview with Farokh radio.

This endorsement by Cuban highlights a pivotal moment for the cryptocurrency community, as both political parties look to capture the growing influence of digital assets in American politics.

Kamala Harris’ Balanced Stance on Crypto Regulation

Kamala Harris’ balanced and open approach to the cryptocurrency space is reflected in her team’s efforts to establish clear policy goals through the Crypto4Harris initiative. Recognizing the potential of digital assets and their role in innovation, her campaign aims to cultivate a constructive dialogue with industry stakeholders and formulate a policy that encourages growth without stifling technological advancements.

Unlike the Biden administration’s strict regulatory measures, which have often left crypto enthusiasts wary of potential overregulation, Harris’ policy seeks to find a middle ground. It signals a willingness to explore how cryptocurrencies can fit into the broader financial system while ensuring that appropriate safeguards are in place. This pragmatic approach has sparked interest and optimism within the digital asset community, which has long sought political allies to advocate for their needs.

The Role of Crypto in the 2024 Election

Both Democrats and Republicans recognize the rising importance of cryptocurrency in American politics. For Kamala Harris, engaging with the crypto community is not just about addressing regulatory concerns; it’s about establishing a forward-thinking dialogue with an industry that holds significant economic and technological potential.

The Republican front-runner, Donald Trump, has also shifted his stance toward a more crypto-friendly approach. Once a critic of digital currencies, Trump is now advocating for policies that align more closely with the crypto industry. On August 29th, he announced plans to transform the U.S. into the “crypto capital of the planet” if re-elected. This strategy aligns with the launch of World Liberty Financial, an initiative supported by his sons, which emphasizes the importance of digital assets in the future of finance.

As Harris and Trump both work to engage the crypto community, the election season showcases a growing understanding among political leaders that digital currencies are more than a passing trend. They represent a significant voting bloc and financial influence that could play a crucial role in determining the outcome of the election.

Crypto4Harris: Building a Pro-Crypto Policy Framework

In response to the Republican push, the Crypto4Harris project is the Harris campaign’s direct effort to connect with the digital asset community. The initiative is designed to deepen Harris’ engagement with industry leaders and enthusiasts, positioning her as a potential advocate for crypto-friendly policies. This project is actively working to establish a policy framework that addresses the concerns of the crypto world while ensuring that regulation does not impede innovation.

The Crypto4Harris framework aims to counterbalance the Republican crypto outreach and provide an alternative perspective that aligns with the sector’s desire for reasonable regulation and growth. By collaborating with crypto stakeholders, Kamala Harris’ team hopes to build a policy that can foster the healthy development of the sector and counterbalance the more extreme regulatory approaches seen in the past.

Conclusion: The Potential for New Crypto Policy Pathways

The evolving Kamala Harris Crypto Policy signals a shift in how digital assets are discussed in the political arena. With Mark Cuban’s endorsement, Harris’ open-minded and proactive approach to the crypto industry marks a significant departure from traditional regulatory measures and creates a space for positive engagement and potential growth in the sector.

As both parties aim to secure the support of the rapidly growing crypto community, the future of U.S. crypto policy will likely hinge on how well candidates can balance innovation with regulation. Harris’ efforts to build a bridge with the digital asset world, paired with Trump’s newfound crypto advocacy, highlight the increasing importance of crypto in shaping economic policy, political strategy, and voter priorities.

The 2024 election could mark a turning point in U.S. crypto policy, driven by an industry that is not only influential in finance but also deeply engaged in political discourse.

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The current Ethereum Price Prediction suggests a potential drop before an upward rally. Recently, Ethereum (ETH) has faced significant volatility, dipping by 10.8% in the past week after a strong rally above $2,700 failed to hold. Currently, the price hovers around $2,389, showing signs of recovery, but crypto analysts are divided over what lies ahead for the second-largest cryptocurrency by market cap.

Symmetrical Triangle Pattern and Potential Price Action

A prominent crypto analyst, known as Trader Tardigrade, recently highlighted that Ethereum could be forming a “Symmetrical Triangle Bottom,” a technical pattern that might suggest a reversal in the price trend. However, the analysis indicates that ETH could potentially dip to around $2,200 before making any significant upward movement.

Trader Tardigrade noted, “It’s possible that ETH touches the lower support as the leg number 5 before it completes the Bottom formation.” This means that before Ethereum experiences a breakout rally, it might need to pull back and test its lower support level.

A symmetrical triangle in technical analysis is a chart pattern formed as the price consolidates into a tighter range over time, creating a triangular shape. This pattern reflects a period of indecision, where buyers and sellers are evenly matched, leading to a sequence of lower highs and higher lows converging at the apex. Once this consolidation period ends, the pattern typically resolves with a breakout, either upward or downward, indicating the start of a new trend.

In the context of Ethereum’s price prediction, this symmetrical triangle pattern suggests that the cryptocurrency is undergoing a period of consolidation. If the pattern plays out as anticipated, ETH might first test its lower support before experiencing a strong upward movement.

Key Market Metrics Indicate Volatility Ahead

Technical patterns are not the only indicators pointing toward potential price action; Ethereum’s market fundamentals offer additional insights. Key metrics such as the Estimated Leverage Ratio and Open Interest Volume can provide further context to the ongoing price movements.

Leverage Ratio Indicates Heightened Risk

The Estimated Leverage Ratio is a key metric to assess, representing the proportion of leverage being used by traders in the Ethereum market. This ratio is calculated by dividing the open interest, which is the total number of outstanding derivative contracts, by the reserve of the asset on exchanges. A high leverage ratio suggests that speculative trading activity is increasing, as traders are using leverage to amplify their positions.

Currently, data from CryptoQuant shows that Ethereum’s estimated leverage ratio has risen from 0.341 to 0.366 in the past month. This uptick indicates that traders are more aggressively using leverage, potentially leading to increased market risk and volatility. A higher leverage ratio often precedes more pronounced price swings, as leveraged positions are more susceptible to liquidations when market movements go against traders’ expectations.

Open Interest and Volume Divergence

Additionally, Ethereum’s Open Interest, which measures the total number of outstanding contracts in the derivatives market, has seen a small increase of 0.81%, reaching a valuation of $11.44 billion according to Coinglass data. An increase in open interest typically signals growing speculative activity and market participation.

However, the Open Interest Volume has decreased by 24.17%, currently standing at $24.33 billion. The divergence between open interest and volume could indicate a cautious market environment. While open interest is rising, suggesting more contracts are open and potentially more positions are being taken, the decrease in volume suggests traders might be hesitant to take on larger trades or could be holding back until a clearer market direction emerges.

What’s Next for Ethereum?

The Ethereum Price Prediction paints a picture of a potentially cautious yet pivotal moment for the cryptocurrency. If the symmetrical triangle pattern plays out, ETH may need to dip to test its support level before any major upward breakout. Additionally, the rise in the leverage ratio and the divergence between open interest and volume suggest that traders are expecting significant market movement in the near future, but with a level of hesitation.

For traders and investors, this presents a period of watching key levels closely. Should Ethereum break below its symmetrical triangle’s lower support, it could imply a further decline. Conversely, if the pattern resolves with an upward breakout, Ethereum could see a strong rally and potentially reclaim levels seen earlier in the year.

In conclusion, the Ethereum Price Prediction highlights a crucial period of consolidation and decision for ETH, driven by both technical patterns and market metrics. While a short-term dip could be on the horizon, the potential for a significant surge afterward makes it a pivotal moment for those closely following Ethereum’s market movements.

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