Bit Digital Expands Its North American Hosted Mining Partnerships
www.coindesk.com 2021-02-23 19:28
Reading time: ~1 m
Nasdaq-listed bitcoin mining company Bit Digital (BTBT) announced plans to expand its North American-hosted mining presence through its partnership with Compute North, Core Scientific and Link Global Technologies.
- To date, the company hosts 2,100 machines with Compute North. The updated partnership will see Bit Digital move an additional 3,000 S17+ machines during Q2, per a press release.
- Interim CEO Erke Huang said partnerships with Compute North and others will allow his company to "quickly expand U.S. based bitcoin production."
- While it plans to expand in the U.S., Bit Digital is currently facing class-action lawsuits based on allegations of fraud misrepresenting its Asia-based mining capacity. Those allegations first surfaced in a report by J Capital in late January.
- The company has also undergone some senior-level leadership changes after removing its former CEO Min Hu and accepting the resignation of board Chairwoman Ping Liu, per CoinDesk's prior reporting.
- Shares of the mining company have dropped over 45% to around $16.16 at last check, per TradingView data.