Bit Digital Shares Rise 7% After Expanding Mining Capacity in Iceland
By Chris Wack
Bit Digital shares were up 7% to $4.41 on Friday after the bitcoin mining company revised an existing agreement to expand its mining capacity in Iceland.
The stock hit its 52-week high of $4.60 earlier in the session, and is up 179% in the past 12 months.
The amended agreement announced Thursday provides Bit Digital with 10.7 MW of hosting capacity with GreenBlocks at a facility in Reykjanesbaer, Iceland. This represents 2.5 MW of incremental hosting capacity relative to the original agreement which will be filled with 800 S19j Pro+ mining units.
There will be 2,800 S19j Pro+ units and 500 S19j units deployed at the facility under the amended contract. About 2,300 miners have already been delivered to the facility, with the remaining 1,000 expected to be delivered and deployed at the facility by the end of June.
The purchase price was $4.9 million, or $12.7 per terahash per second.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 23, 2023 14:06 ET (18:06 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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