Nasdaq P2P company transforms into Bitcoin Mining, Bit Digital mined 949 BTC in six months.

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Recently, there have been reports that a well-known figure in the blockchain field has acquired a US-listed company that originally focused on P2P business and transformed it into a Bitcoin mining company. The company has been renamed Bit Digital and has changed its trading code on the Nasdaq exchange.

According to reports, Bit Digital has shifted its business focus to the Bitcoin mining sector, currently operating over 20,000 Bitcoin mining machines for mining operations. The company was originally a Chinese car loan platform and was listed on Nasdaq in March 2018, being hailed as "the first car loan stock in China." However, the company was later investigated by relevant authorities for suspected illegal public deposit-taking, becoming the first company among US-listed P2P platforms to face such circumstances.

The new leader of Bit Digital previously had entrepreneurial experience in the cryptocurrency field, having issued a token and attempted to transition from a public chain to a computing power coin, focusing on the concept of Mining dividends. At that time, it was promised that users holding the token would receive dividends from the company's Mining profits, and there were plans to use the Mining profits to continuously buy back and destroy the tokens. However, later on, for various reasons, these plans were suspended.

According to the semi-annual report disclosed by Bit Digital on the official website of the U.S. Securities and Exchange Commission, the company has deployed 1250PH/S of computing power in Bitcoin Mining in the first half of this year, ranking first among Nasdaq-listed companies. The company's Bitcoin mining business started in February of this year, with a total of 22,869 mining machines deployed, and 949.51 Bitcoins mined within half a year. As of June 30, the revenue generated from the Bitcoin mining business was approximately $690,000.

With the continuous rise in Bitcoin prices, Nasdaq concept stocks related to Bitcoin have generally shown an upward trend. Data shows that Bit Digital's stock price fell to a low at the beginning of this year, but has been on a steady rise since it started its mining operations, with a cumulative increase of an astonishing 1451.55% in 2020.

This series of changes reflects the rapid development of the cryptocurrency industry and the integration trend between traditional finance and emerging digital assets. With the rise in Bitcoin prices and the increase in institutional investors, more and more companies are beginning to pay attention to and enter this field, bringing new vitality and opportunities to the industry.

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LostBetweenChainsvip
· 4h ago
Another whitewashing IPO
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LayerHoppervip
· 5h ago
bad asset buy the dip expert
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MetaverseLandlordvip
· 21h ago
Mining makes money quickly.
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GasFeeVictimvip
· 21h ago
The transformation is a bit harsh.
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All-InQueenvip
· 21h ago
The time to buy the dip has arrived.
View OriginalReply0
PumpStrategistvip
· 21h ago
Popular sucker play people for suckers field
View OriginalReply0
SatoshiNotNakamotovip
· 21h ago
Old suckers change their vests
View OriginalReply0
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