TechFlow News, January 30: According to The Block, Bit Digital (Nasdaq: BTBT) announced on Thursday that it will fully terminate its Bitcoin mining operations and instead focus entirely on Ethereum infrastructure and AI-related strategies. CEO Sam Tabar stated that the company will prioritize business opportunities that enable active participation, revenue generation, and operational leverage—over mining.
As of July, Bit Digital held 153,546 ETH (valued at approximately $428.8 million) and had acquired an additional 31,057 ETH through a $135 million convertible bond financing. The company has also entered the high-performance computing (HPC) sector via its subsidiary WhiteFiber, which completed an initial public offering (IPO) raising approximately $160 million in 2023.
