BIT Digital explained: the production of bitcoins, despite the growth of quotations of the first cryptocurrency, has become economically unprofitable and requires significant investments in the modernization of equipment and holding the market positions.
According to the quarterly report, 24,434 broadcasts and 417 bitcoins are on the balance of Bit Digital. The company began to save the second in capitalization of cryptocurrency in 2022.
According to the company’s statement, it controls one of the largest infrastructures for the ether stake. Bitcoins are planned to be gradually selling, completely moving to the air.
To implement the Strategy, Bit Digital attracted about $ 163 million through shares. Funds will be directed to the purchase of cryptocurrencies and the expansion of infrastructure.
Similar actions were taken by the Bitmine Immersion Technologies mining company, which attracted $ 250 million by selling securities. The funds are planned to be directed to the creation of air stocks. The transaction was organized by a consortium of investors, including Fundstrat, Pantera, Galaxy Digital, DCG, Kraken crypto -rope and others.
Earlier, the American mining company Mara (former Marathon Digital) reported on the extraction of 713 BTC in June, which is 25% less than a month earlier. The company explained the decrease in the production of weather conditions and the repair of equipment.
Source: Bits
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