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The Digital Bit on Wednesday dropped by almost 4% after the crypt of the mining company announced that it will end or sell its Bitcoin mining infrastructure and uses the proceeds to buy more ether.
In the statement of the company said Would gradually turn the whole bitcoin (BTC) Stock to Ether (Eth) but did not specify the term to complete the turn.
Caintelegraph addressed the bit of digital, but at the time of publication he did not receive an answer.
Bit Digital said he aims to become a “pure Ethereum Stakeum and Treasury Company”. The company began to buy ETH for its treasury reserve and in 2022 launched the service infrastructure.
From the quarter ending 31.
If the company converted all its bitcoin holding into ETH today, ETH Reserve Bit Digital would increase by more than 18,000 Eth to more than 42,000 ETH.
Meanwhile also a little digital notified that it will sell its own shares, while the net proceeds are used to buy more ether.
Price prices of shares per ether thrust
Investors have sour Bitcoin Bit Bit, which caused Bit Digital (BTBT) shares on the center of the business session by 3.69% to $ 2.35.
Shares after trading further fell by 3.83% and ended the trade session after hours to $ 2.26, according to to Google Finance.
Shares dropped by almost 25% year -on -year and dropped by 39% from the peak 6 January of $ 3.88.
Related: Bitcoins mining firm Bit Digital Report Revenues by almost 40%
In the quarter of March, the company reported that its net income fell by 18%year -on -year, while its net profit margin fell drastically by 240%.
In April acquired an industrial building In Madison, North Carolina for $ 53 million, to strengthen their artificial intelligence and high -performance computing offers.
More companies move towards ETH
Some publicly traded companies have increased their ETH exposition in recent weeks.
Sports betting firm Sharpink Gaming bought 13 June worth $ 463 million, which made it the largest public traded company in the world to hold eth. Sharpink bought another on Tuesday $ 30 million in Ether.
According to Strategy ETH Reserve, Data tracker This is followed by institutions that hold more than 100 ETH, Bit Digital is the third largest publicly traded company that holds ETH in its reservation, with Sharpink took the best place and exchanged Coinbase in second place.
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