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Bitcoin Miner Bit Digital Passes $1B Market Cap

The company had a total value of $6.2 million a year ago.

Updated Dec 12, 2022, 12:46 p.m. Published Jan 10, 2021, 11:17 p.m.

Bitcoin mining firm Bit Digital (BTBT)https://hashrateindex.com/stocks/btbt now has a market value above $1 billion, up from $6.2 million a year ago.

Shares of the New York-based company have soared nearly 7,500% in the past year, currently trading just above $25.
Along the way, Bit Digital has worked to aggressively expand its mining operations, including a $13.9 million deal to purchase nearly 18,000 Antminer and Whatsminer machines.
Once received and deployed, the machines will more than double Bit Digital's hash power to over 2,253 petahash per second (PH/s).
The company's focus on increasing its mining capacity is not surprising given that mining revenues are ballooning.
Three other public mining firms have recently joined Bit Digital as billion-dollar companies: Riot Blockchain, Marathon Patent Group and Hive Blockchain.

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