Bit Brother Limited (NASDAQ: BETS) has just announced the unaudited results of its mining activities for the 2023 calendar year ending December 31, 2023. Site 1 in Clyde, Texas, launched its activities on 17 January 2023 and reached its full capacity of 6 MW last May after installing 1.5 MW mining servers. Site 2 in Abilene, Texas, is expected to launch operations in mid-January 2024

As of December 31, 2023, BETS site 1 mined around 136 bitcoins, generating revenue of around $6.2 million based on the bitcoin price last December. It generated electricity savings and energy management benefits of approximately $1 million through the “Hedged Electricity Price” electricity supply agreement with a retail electricity supplier (REP) under the jurisdiction of the Electric Reliability Council of Texas (ERCOT

Site 2 is expected to go live in mid-January 2024, with an estimated monthly production of 12 BTC provided by the initial batch of 3,300 S19 miners. So, sites 1 and 2 are expected to achieve a combined monthly production of 24 BTC assuming that miners are operating normally

“In 2024, we will continue to expand the scale of our mining operations and improve operating capacity and production,” said Jack Wu, the company's CEO. He states: “Assuming the current Bitcoin price trend continues, we believe that we will achieve even greater achievements in the cryptocurrency space through continued innovation and strategic investments.