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Bit Digitala company that was previously focused on Bitcoin’s mining, she saw Stock price declines after the announcement of a $ 150 million stock sales and a shift toward Ethereum of the role.
26. June Bit Digital specified Yes would sell 75 million new shares of $ 2. The aim is to raise funds to expand your Ethereum share and growth of your investment.
This is followed by the Decision of the Bit of Digital to move your focus from bitcoin
Btc
Eth
2,445,97
. Company Specified on June 25 Yes Plans to become a job only for investing and treasury.
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The market reaction was not positive. After sharing its new strategy, the shares have fallen by almost 4%. The decline continued after the public offer was announced and the shares fell 15% in just one day.
Bit Digital’s Stock It dropped almost 19% throughout the weekwhich went from $ 2.40 to $ 1.86 Before completed on June 27 at $ 1.99.
The company has already begun to build its ETH reserves and set up its investment infrastructure back in 2022.
Bit Digital had 24,434 Eth and 417 Btcworth about $ 44.6 million and $ 34.5 million at the end of March. Once you finish the conversion of all your bitcoin to Ethereum, a company expects to hold about 42,000 ethwhich is approximately $ 103 million based on liquid prices.
In the meantime, a smarter web company recently secured £ 41.2 million ($ 56.6 million) with a new funding after buying a large amount of bitcoin. What did the company say? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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Aaron is a person for everyone and for all related to digital currencies. With a huge passion for Blockchain & Web3 education, Aaron tries to transform the space the way we know it and make it more affordable to complete beginners.
Aaron quoted more established outlets and was the author himself. Even during her free time, she enjoys exploring market trends and looking for the next Supernova.
