Why Bit Digital Is Rocketing Higher, Up 17% Today

Bit Digital (NASDAQ: BTBT) is among the top cryptocurrency-related stocks that's seen a sharp uptick in today's session. Shares of the stock are up more than 17% at the time of writing, after the company announced earnings. Bit Digital's report was a mixed bag, with the company reporting a wider-than-expected loss for its second quarter and a stronger forecast for revenue than the market had anticipated. As a top Bitcoin mining company, such volatility is to be expected, and today's results have certainly brought the kind of price move many investors may have already anticipated.The thing is, this move appears to have little to do with the numbers Bit Digital ultimately reported. The company's high-performance computing (HPC) division appears to be the key focus of investors, with the company announcing its second client (Boosteroid) will be purchasing GPU servers over a five-year period, in a deal that should be worth around $13 million in revenue. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool