The two-year pilot, launched in May 2018 on the basis of six-month extensions from the state's transport department subject to its success, was dealt a heavy blow when the coronavirus struck earlier this year.

The electric bikes, which can be hired from one of 19 charging stations across the city, are primarily used by tourists.

Unsurprisingly, use of the bikes plummeted as the pandemic halted travel.

While cycling has become popular during the pandemic with many Novocastrians dusting off old bikes or buying new ones to escape isolation, people are only now returning to the Bykko bikes.

The bikes can be hired at a pay-as-you-go price of $2 for every 10 minutes of use or for $10 per day. A monthly membership fee of $40 is also available and allows unlimited use at up to 60 minutes per ride.

According to Transport for NSW's patronage data, 1145 trips were completed in January before usage dropped 34 per cent to 747 trips in February. Data for March and April is not yet available online.

Bykko managing director Monica Zarafu said on Monday that she could not comment beyond indicating that an announcement would be made by Transport for NSW in coming weeks.

She did, however, suggest a Facebook post by ABC Newcastle about the operation winding up was off the mark.

In November 2018, Ms Zarafu told the Newcastle Herald about 90 per cent of the bikes' users in the first six months of operation had been locals.

This is understood to have fallen over time with tourists now making up the lion's share of users.

An average 1100 trips have been taken per month over the course of the two years based on the available data.

A Transport for NSW spokesperson said on Monday the agency and Bykko were "finalising details for the future of the program beyond May 2020".