Bit Digital beats $1 billion in bitcoin mining industry shares

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Bitcoin mining company Bit Digital (BTBT) currently has a market cap of more than $1 billion, up from $6.2 million a year earlier.

Shares of the New York-based company rose almost 7,500 percent in the last year, now trading just over $25.
Bit Digital has worked to rapidly expand its mining activities, including a $13.9 million contract to buy almost 18,000 Antminer and Whatsminer machines.
If received and deployed, the devices would have more than double bit digital hash power to more than 2,253 petahash per second (PH/s).
The company’s focus on growing its mining potential is not unexpected considering that mining sales are booming.
Three other public mining firms have recently joined Bit Digital as billion-dollar companies: Riot Blockchain, Marathon Patent Party, and Hive Blockchain.

 

-KogoCrypto/CoinDesk

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