Why Bit Digital Stock Is Plummeting Today

Keith Noonan, The Motley Fool
·2 min read
Why Bit Digital Stock Is Plummeting Today

Despite strong rebound momentum lifting the broader cryptocurrency market today, Bit Digital (NASDAQ: BTBT) stock is sinking. The cryptocurrency mining company's share price was down 8% as of 11:30 a.m. on Wednesday despite Bitcoin (CRYPTO: BTC) being up 3.6% today. Bit Digital published a filing with the Securities and Exchange Commission (SEC) on Tuesday indicating that "selling shareholders" would potentially sell up to about 23.6 million ordinary shares to institutional investors.

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