Investing.com - Financial Markets Worldwide

Bit digital director Pierce acquires $1 million in shares

Published 27/06/2025, 15:40
Bit digital director Pierce acquires $1 million in shares
BTBT
0.33%

Bit Digital, Inc (NASDAQ:BTBT) Director Brock Jeffrey Pierce reported purchasing 500,000 shares of the company’s ordinary shares on June 25, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were bought at a price of $2.00, totaling $1,000,000.

Following the transaction, Pierce directly owns 500,000 shares. Additionally, he indirectly owns 80,000 shares through Percival Services, LLC, where he serves as the Managing Director. The insider purchase comes amid significant price volatility, with the stock showing a beta of 5.37. InvestingPro subscribers can access 12 additional key insights about BTBT’s financial health and market position through the comprehensive Pro Research Report.

In other recent news, Bit Digital has announced a strategic shift to focus on Ethereum staking and treasury operations, moving away from its bitcoin mining activities. The company reported $7.8 million in revenue from its bitcoin mining business in the first quarter of 2025, a decrease from $10.5 million in December. Meanwhile, its WhiteFiber high-performance computing division saw revenue growth, earning $16.5 million in the first quarter, up from $14.4 million in the previous quarter. Bit Digital plans to spin off this division through a public offering. In a bid to support its new Ethereum-centric strategy, Bit Digital has priced a $150 million public offering of 75 million ordinary shares, with the proceeds aimed at purchasing Ethereum. H.C. Wainwright has maintained a Buy rating for Bit Digital, with a price target of $7.00, naming the company a top pick for 2025. The firm is also projecting significant revenue growth for WhiteFiber, potentially reaching $150 million quarterly by the end of 2026. Bit Digital’s strategic pivot comes as Ethereum’s prominence grows following its transition to a proof-of-stake consensus mechanism.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.