Bit Digital stocks fell approximately 4 % on Wednesday after the encryption mining company announced that it will end or sell the Bitcoin manufacturing infrastructure and use revenues to buy more ether.
In a statement, the company He said It will gradually turn the bitcoin coin completely (BTC(Stack to the ether)Eth), But it has not set a final date to complete this step.
Cointelegraph communicates to Digital, but he did not receive a response to the time of publication.
Bit Digital said it aims to become “Ethereum Ethereum and Treasury Company”. The company started buying ETH for its cabinet reserve and began its treasury services in 2022.
As of the quarter ending on March 31, the company held 24,434.2 ETH and 417.6 BTC in its reserves.
If the company converts all Bitcoin holdings to ETH today, the Bit Digital reserves will increase with more than 18000 ETH to more than 42000 ETH.
Meanwhile, the decisions are also digital Declare His own shares will be sold, with clear returns to buy more ether.
The share price decreased in the ether movement
Investors have tense the Bit Digital axis away from Bitcoin, causing Bit Digital (BTBT) to decrease by 3.69 % to $ 2.35 in the trading session on Wednesday.
The stock also decreased by 3.83 % after the expiration of the trading, and the completion of a trading session after hours at $ 2.26, According to To Google Finance.
The stock decreased by approximately 25 % on an annual basis, and 39 % of the peak of January 6 of $ 3.88 decreased.
Related to: Bitcoin bit Digital mining company revenue reports by approximately 40 %
For a quarter of March, the company reported that its revenues decreased by 18 % year on an annual basis, while the net profit margin has decreased dramatically, by 240 %.
In April, the company acquired an industrial building in Madison, North Carolina, for $ 53 million to boost its artificial intelligence and high -performance computing offers.
More companies make movements towards ETH
Some companies that are publicly traded have increased their exposure to ETH in recent weeks.
Sharplink Gaming Sharplink Gaming has bought $ 463 million on June 13, making it the world’s largest circulating company in the world. On Tuesday, Sharplink bought an additional $ 30 million in ether.
According to the strategic ETH reserve, data Tracker Bit Digital considers that institutions that maintain more than 100 ETH, the third largest circulating company in the public to keep it in its reserves, as Sharplink ranked first and the stock exchange in second.
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2025-06-26 05:41:00
