Why BitDigital Shares Are Moving Higher Tuesday
Portfolio Pulse from Dylan Berman
BitDigital, Inc. (NASDAQ:BTBT) shares surged 41% after the company announced a $275 million contract expansion to supply 2,048 Nvidia GPUs over three years. The deal is expected to significantly boost BitDigital's revenue, with deliveries starting in July.
June 25, 2024 | 5:20 pm
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BitDigital shares rose 41% following the announcement of a $275 million contract expansion to supply 2,048 Nvidia GPUs over three years. This deal is expected to significantly boost the company's revenue.
The contract expansion is a significant development for BitDigital, as it not only increases the company's revenue but also brings it closer to its $100 million annual revenue target. The market has reacted positively, with shares rising 41%.
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