Street Calls of the Week
Bit Digital, Inc. (NASDAQ:BTBT), a $1 billion market cap cryptocurrency mining company with a strong liquidity position and a current ratio of 7.82, announced Friday that its General Meeting of Shareholders, originally reconvened on Wednesday, was adjourned due to the absence of a quorum. The meeting was called to consider a proposal to increase the company’s authorized share capital from $3,500,000, divided into 340,000,000 ordinary shares and 10,000,000 preference shares, to $10,100,000, divided into 1,000,000,000 ordinary shares and 10,000,000 preference shares.
In accordance with the company’s amended and restated articles of association under Cayman Islands law, shareholders passed an ordinary resolution to adjourn the meeting. The resolution allows the meeting to be reconvened at a time and place determined by the board of directors, with at least 24 hours’ notice to shareholders provided through a Form 8-K filing with the Securities and Exchange Commission.
Bit Digital stated in the press release that the General Meeting has tentatively been rescheduled for Tuesday, September 23, 2025, at 9:00 a.m.
This information is based on a statement contained in the company’s recent SEC filing.
In other recent news, Bit Digital Inc. reported its second-quarter 2025 earnings, which fell short of expectations. The company announced earnings per share of $0.07, which was better than the forecasted -$0.02. However, revenue came in at $25.7 million, missing the anticipated $27.12 million. In addition to its earnings report, Bit Digital disclosed that it held approximately 121,252 Ethereum tokens valued at about $532.5 million as of August 31. The company also noted that it had staked about 86.6% of its Ethereum holdings, generating an annualized yield of approximately 2.94% in rewards. Furthermore, Bit Digital’s General Meeting of Shareholders was adjourned due to a lack of quorum, delaying a proposal to increase the company’s authorized share capital. The meeting will be reconvened at a later date, as determined by the board of directors, with appropriate notice to shareholders. These developments provide investors with insight into Bit Digital’s current financial status and strategic decisions.
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