What's Going On With With Bitcoin-Related Stock Bit Digital (BTBT)?

Bit Digital Inc BTBT shares are trading lower by 1.75% to $2.80 during Friday’s session. Traders and investors are watching for the company’s second-quarter earnings report, confirmed for Monday’s after-hours session. According to analyst consensus estimates, BTBT is expected to report an EPS loss of 3 cents on revenue of $26.089 million.

The company on Thursday also announced its 2024 Annual General Meeting of Shareholders, scheduled for September 25, to be held at the company's headquarters in New York City and via a live webcast.

Bit Digital says key items on the agenda include the election of five directors for one-year terms, approval of amended and restated articles of association and ratification of the appointment of the independent public accounting firm. Shareholders of record as of August 5 will be eligible to vote.

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How To Buy BTBT Stock

By now you're likely curious about how to participate in the market for Bit Digital – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, BTBT has a 52-week high of $5.27 and a 52-week low of $1.76.