BTC Digital used to be a chain of English schools based in Shenzhen. Now it has mining farms in Pennsylvania and Tennessee.) mining units on Nov. 3, bringing its total number of machines to 2,174, with over 230PH/s of computing power. The new acquisitions are expected to become operational by the end of the month.
The deal was made with “two unaffiliated third parties” for Bitmain Antminer S19j Pro units in exchange for 276,572 shares of ordinary company stock valued at $968,800, according to aAccording to the Nasdaq-listed company’s website, it is “a leading general English language training service provider in China.” The websitethat the company has learning centers throughout the country and offers training online and in the metaverse. A Reddit thread begun on Nov.
“With the recent purchases and our plan to further increase the number of mining machines, we aim to continue improving our financial conditions as well as maximizing value for our shareholders."a low of $1.79 per share on Sept. 26. It experienced a surge of activity after its ticker symbol was changed from METX to BTCT on Sept. 28. Shares are valued at $3.66 at the time of writing.
On average, the public miners trade at a P/S ratio of 2.92. This level could surpass 7 in the next bull market, potentially pushing stock valuations to new all-time highs.