Bit Brother Limited has witnessed a remarkable surge in its stock prices since last Friday, following the announcement of its acquisition of 3300 units of Antminer S19 miners, a development that has injected robust momentum into its cryptocurrency mining operations.
In the aftermath of the announcement, Bit Brother’s stock soared by an impressive 43% on Friday, only to surge further by 112.2% to reach $0.0825 in pre-market trading. As of now, the stock continues to maintain its upward trajectory, with an unusually high volume of shares changing hands in the market.
At the time of this publication, Bit Brother Ltd stock (BETS) has witnessed a surge.
Bit Brother Ltd
Current Price: $0.07
Change : +0.03
Change (%): (68.27%)
Volume: 351.3M
Source: Tomorrow Events Market Data
This substantial investment is anticipated to significantly enhance Bit Brother’s total hash rate, potentially reaching 400,000 TH/s, assuming the newly acquired 3300 units are operating at full capacity. Such a boost in hash rate further solidifies Bit Brother’s emerging position in the competitive landscape of cryptocurrency mining. The company’s technical team played a pivotal role in optimizing the performance of the Antminer S19 miners, thereby increasing mining efficiency and promising more substantial returns for investors.
Mr. Jack Wu, the CEO of Bit Brother, expressed his pride in the company’s recent achievement, stating, “This marks a significant success in our strategic expansion in the Bitcoin mining sector. The acquisition of Antminer S19 miners is part of our ongoing efforts to ensure our mining operations remain highly competitive.”
Bit Brother Ltd, known for its multifaceted operations spanning business management in China and blockchain and cryptocurrency ventures in the United States, strategically manages and integrates cryptocurrency mining facilities within the U.S. jurisdiction. The company boasts a dedicated team of specialists who have successfully expanded two mining ventures and remain committed to further growth.
Despite the recent surge in stock prices, Bit Brother’s performance over different time frames reveals a mix of volatility and strategic positioning. Over the last five days, the stock has witnessed a remarkable 148.06% increase, while the one-month performance stands at 54.59%. However, the three-month and year-to-date (YTD) performances show declines of -87.99% and -99.40%, respectively. Over the past year, Bit Brother’s stock has seen a substantial dip of -98.78%.
As Bit Brother continues its upward trajectory fueled by the recent Antminer S19 acquisition, investors are keenly observing how the company’s strategic moves in the cryptocurrency mining sector will unfold in the coming months.
