Bit Digital, Inc. (NASDAQ:BTBT) Q4 2023 Earnings Conference Call March 19, 2024 10:00 AM ET
Company Participants
Cameron Schnier - Head of IR
Sam Tabar - CEO
Erke Huang - CFO
Conference Call Participants
Mike Grondahl - Northland Securities
Kevin Dede - H.C. Wainwright
Edward Engel - Singular Research
Alex Schmidt - CoinShares
Operator
Good morning, good afternoon, and good evening. Ladies and gentlemen, thank you for standing by. And welcome to the Bit Digital Fiscal Year 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Cameron Schnier, Head of Investor Relations. Please go ahead, Cameron.
Cameron Schnier
Thank you, Mariana. Good morning and welcome to the Bit Digital fiscal year 2023 earnings call. Joining us on the call today are Sam Tabar, Chief Executive Officer; and Erke Huang, Chief Financial Officer.
Before we begin, I would like to remind all participants that some of the statements we will be making today are forward-looking. These matters involve risks and uncertainties that could cause our results to differ materially from those projected in these statements. I therefore refer you to our latest 20-F filing and our other SEC filings.
Our comments today may also include non-GAAP financial measures. Additional details and reconciliation to the most directly comparable GAAP financial measures can be found in our 20-F filing, which is on our website. After our prepared remarks, we will open the call up for questions. [Operator Instructions]
With that, I will turn the call over to Sam.
Sam Tabar
Thank you, Cam. Ladies and gentlemen, thank you for joining us on the call today.
In my prepared remarks, I'll discuss three things, our fourth quarter and full year results, discuss a number of achievements, and three, our thoughts on the outlook of 2024 and our future ambitions. Cam and Erke will then provide more detail on our financial results. And then we'll open the line for your questions.
2023 was quite a year. It was a rebound year for our industry and a foundational year for Bit Digital. We began last year with bitcoin prices below 17,000 and ended above 43,000 with the majority of that gain occurring in the final months of the year. The price rally has continued into 2024 with the price of bitcoin reaching new all-time highs. The bitcoin price rally was a welcome reprieve for the mining industry, especially given the upcoming halving when mining rewards will be cut in half. However, we spent the last year focused on building a company that could withstand both halving events and cyclical gyrations in the price of bitcoin. More on that later in this call.