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Bit Digital Inc.

Company NameBit Digital Inc.
Stock SymbolBTBT

On January 11, 2021, J Capital Research issued a research report alleging, among other things, that Bit Digital operates “a fake crypto currency business” “designed to steal funds from investors.” Though the Company claims “it was operating 22,869 bitcoin miners in China,” J Capital alleged that “is simply not possible” and stated that “[w]e verified with local governments supposedly hosting the BTBT mining operation that there are no bitcoin miners there.” 

On this news, Bit Digital’s stock price fell $6.27 per share, or 25%, to close at $18.76 per share on January 11, 2021.

 

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