Bit Digital falls 4% as it ditches Bitcoin mining for Ethereum

The crypto mining firm will additionally sell its own stock to purchase more ETH for its treasury.

Shares in Bit Digital fell by nearly 4% on Wednesday after the crypto mining firm announced it would wind down or sell its Bitcoin mining infrastructure and use the proceeds to buy more Ether.

In a statement, the company said it would gradually convert its entire Bitcoin (BTC) stack to Ether (ETH), but it did not specify a deadline for completing the move.

Cointelegraph reached out to Bit Digital, but did not receive a response by the time of publication.

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