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Why Bit Digital Stock Is Plummeting Today

Keith Noonan, The Motley Fool
·2-min read
Why Bit Digital Stock Is Plummeting Today

Despite strong rebound momentum lifting the broader cryptocurrency market today, Bit Digital (NASDAQ: BTBT) stock is sinking. The cryptocurrency mining company's share price was down 8% as of 11:30 a.m. on Wednesday despite Bitcoin (CRYPTO: BTC) being up 3.6% today. Bit Digital published a filing with the Securities and Exchange Commission (SEC) on Tuesday indicating that "selling shareholders" would potentially sell up to about 23.6 million ordinary shares to institutional investors.

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