- The stock price of Bit Digital Inc (NASDAQ: BTBT) increased by over 4% pre-market. This is why it happened.
The stock price of Bit Digital Inc (NASDAQ: BTBT) increased by over 4% pre-market. There is not any company-specific reports driving the stock price up today so it appears there are external factors at play.
Investors in stock trading platforms are citing the momentum in cryptocurrencies as being the driving force for the stock price increase. The price of the Bitcoin cryptocurrency is up more than 9% over the past week. And Ethereum is up more than 12% over the past week.
Earlier this month, one of the catalysts that drove the stock price up is the company being the focus of an in-depth video report by Bloomberg L.P. on its operations and efforts to utilize carbon neutral energy sources for mining. You can see the video here.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.