Bit Digital Expands Its North American Hosted Mining Partnerships

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.