Bit Digital shares fell by almost 4% on Wednesday after the cryptocurrency mining company announced that it would end or sell Bitcoin mining infrastructure and apply revenues to buy more ether.

The company in a statement he said Gradually converts all his bitcoins (Btc) System for ether (Eth), but he did not specify the date of completion of the movement.

Cointelegraph contacted Bit Digital, but until the publication did not receive an answer.

Bit Digital said that it aims to become “pure art of Ethereum Staking and Treasure”. The company started buying ETH for a tax reserve and started infrastructure of articular services in 2022.

On March 31, the company had 24,434.2 ETH and 417.6 BTC in its reserves.

If the company today converted all its Bitcoin shares in ETH, the ETH Bit Digital reserve would raise by over 18,000 ETH to over 42,000 ETH.

Meanwhile, a digital bit announced that it will sell its own supplies and net revenues will be used to buy more ether.

The price of the action has dropped to ether movement

Investors weakened with bitcoin bitcoin bit, causing a bit of bit digital (BTBT) to decrease by 3.69% to USD 2.35 in Wednesday’s commercial session.

Shares fell over 3.83% after the end of trade, ending the trade session after USD 2.26, According to to Google Finance.

The shares fell by almost 25% to a year and dropped by 39% compared to the top 6 January USD 3.88.

Related: Bitcoin Mining Bit Digital Reports increased by almost 40%

In the quarter of March, the company reported a decrease in net revenues by 18% year on year, while the net profit margin dropped drastically by 240%.

In April, the company purchased an industrial building in Madison in North Carolina, for $ 53 million to strengthen artificial intelligence and high -performance computer offers.

More companies are made in the direction of ETH

Some stock companies have increased the ETH exhibition in recent weeks.

The bookmaker Sharplink Gaming bought ETH worth $ 463 million, which makes it the largest company listed in the world in the world. On Tuesday, Sharplink bought an additional $ 30 million in the ether.

According to the strategic ETH reserve, data abstract This tracks institutions with over 100 ETH, Bit Digital is the third largest listed company that keeps ETH in its reserve, and Sharplink ranks first and exchange the Coinbase ranking.

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