Bit Digital Finalizes An Agreement For 6 Megawatts Of Incremental Hosting Capacity To Power Its Miners
Portfolio Pulse from Benzinga Newsdesk
Bit Digital has finalized an agreement to secure an additional 6 megawatts of hosting capacity for its cryptocurrency miners at a facility in Massena, New York, operated by a subsidiary of Coinmint LLC. This expansion brings Bit Digital's total contracted hosting capacity with Coinmint to around 46 megawatts.
January 31, 2024 | 9:32 pm
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POSITIVE IMPACT
Bit Digital's agreement for additional hosting capacity is likely to enhance its mining capabilities and potentially increase its operational efficiency and profitability.
The news of Bit Digital expanding its hosting capacity is directly related to its core business of cryptocurrency mining. The additional 6 megawatts of capacity is expected to increase the company's mining capabilities, which could lead to higher output and potentially improved profitability. This positive development is likely to be viewed favorably by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80