Bit Digital Joins the Bitcoin Mining Council (BMC) at the Invitation of Michael Saylor, Founding Member

Published: Dec. 7, 2021 at 7:00 AM CST

NEW YORK, Dec. 7, 2021 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a public bitcoin mining company headquartered in New York, announced today it has become a member of the Bitcoin Mining Council (BMC), joining MicroStrategy and founding members Argo Blockchain, Core Scientific, Marathon Digital Holdings, Riot Blockchain and Galaxy Digital, among others.

Company Logo (PRNewsfoto/Bit Digital, Inc.)
Company Logo (PRNewsfoto/Bit Digital, Inc.)

Mr. Bullett commented, "We are thrilled to join the Bitcoin Mining Council and be part of its important mission to promote sustainable energy use and industry transparency. At Bit Digital we are dedicated to continuously enhancing the sustainability of our operations, and the larger bitcoin network. Joining the Bit Mining Council acts in furtherance of our commitment to sustainability."

Michael Saylor, founder of the BMC and renowned investor, commented, "At BMC, we are all coming together to educate the public and gather insights about the latest developments in the bitcoin mining business and how we are using energy. We recognize Bit Digital's efforts to operate using carbon-free energy, and welcome them to the Council."

Bit Digital joins the BMC in its campaign for industry transparency, sharing best practices and educating the public on the benefits of bitcoin and mining. The Company has participated in the latest BMC survey of sustainable power and is refining its strategy to further prioritize the use of carbon-free energy in its operations. In the future, Bit Digital intends to operate on 100% carbon-free power.

Bit Digital has been covered extensively by the Wall Street Journal and Bloomberg for its efforts on sustainability.

About Bitcoin Mining Council

The Bitcoin Mining Council is a voluntary and open forum of Bitcoin mining companies and other companies in the Bitcoin industry committed to the Bitcoin network and its core principles. It promotes transparency, shares best practices, and educates the public on the benefits of Bitcoin and Bitcoin mining. For more information, visit: www.bitcoinminingcouncil.com

About Bit Digital

Bit Digital, Inc. is a bitcoin mining company headquartered in New York City. Our mining operations are located in North America. For additional information, please contact Sam Tabar at sam@bit-digital.com or visit our  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, 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. 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. Additionally, all discussions of financial metrics assume mining difficulty rates as of September 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. 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.

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