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Bit Digital is exiting Bitcoin mining and shifting its focus to Ethereum and artificial intelligence!
Bit Digital $BTC BTBT$GT announced that it will cease all Bitcoin mining operations and redirect its efforts toward Ethereum and AI infrastructure through a stake in WhiteFiber.
The company stated:
"Mining was effective in the past, but over time it has become a less efficient use of capital."
This strategic shift reflects changing returns on investment...
And capital is now seeking higher efficiency and new revenue models.
*Alt text: Bitcoin mining rigs operating in a data center*
The move comes as the industry faces increasing energy costs and regulatory challenges, prompting companies to reevaluate their strategies.
By focusing on Ethereum and AI, Bit Digital aims to capitalize on emerging opportunities in blockchain development and artificial intelligence applications, positioning itself for sustainable growth in the evolving tech landscape.