Bit Digital Inc BTBT is trading significantly higher Monday morning after the company announced it entered into a second strategic co-mining agreement with Digihost Technology Inc.
The expanded collaboration between the two companies is expected to facilitate an additional increase in hashrate of approximately 2 EH.
'By signing this agreement,we believe that Bit Digital has secured power and hosting sufficient to complete the migration of our current fleet to North America in full, and additional capacity to accommodate expected miner purchases,' said Bryan Bullett, CEO of Bit Digital.
Bit Digital is also trading higher in sympathy with the price of Bitcoin BTC/USD. Bitcoin bounced sharply higher following speculation Amazon.com Inc AMZN plans to accept Bitcoin by the end of 2021.
Price Action: Bit Digital has traded as high as $33 and as low as $3.40 over a 52-week period.
At last check Monday, the stock was up 25.7% at $5.30.
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