INSUBCONTINENT EXCLUSIVE:
Shares in Bit Digital fell by nearly 4% on Wednesday after the crypto mining firm announced it would wind down or sell its Bitcoin mining
infrastructure and use the proceeds to buy more Ether.In a statement, the company said it would gradually convert its entire Bitcoin (BTC)
stack to Ether (ETH), but it did not specify a deadline for completing the move.Cointelegraph reached out to Bit Digital, but did not
firm started buying ETH for its treasury reserve and began its staking services infrastructure in 2022.As of the quarter ended March 31, the
firm held 24,434.2 ETH and 417.6 BTC in its reserves
42,000 ETH.Meanwhile, Bit Digital also announced that it will be selling its own stock, with the net proceeds being used to buy more
trading session at $2.26, according to Google Finance.Bit Digital dipped further in after-hours trading
Source: Google FinanceThe stock is down nearly 25% year-to-date and is down by 39% from its Jan
revenue declined by 18% year-on-year, while its net profit margin fell drastically, by 240%.In April, the firm acquired an industrial
building in Madison, North Carolina, for $53 million to bolster its artificial intelligence and high-performance computing offerings.More
Gaming bought $463 million worth of ETH on June 13, making it the largest publicly traded company in the world to hold ETH
On Tuesday, SharpLink bought an additional $30 million in Ether.According to Strategic ETH Reserve, a data tracker that tracks institutions
holding more than 100 ETH, Bit Digital is the third largest publicly traded company to hold ETH in its reserve, with SharpLink taking the
