Why Bit Digital Stock Raced 18% Higher on Wednesday
Wednesday was a fine day to be invested in nearly any type or flavor of cryptocurrency. It was also a good day for shareholders in crypto mining companies, which saw a bounce as the Great Crypto Rally of Late 2023 extended into yet another trading session.
One of those miners, Bit Digital (NASDAQ: BTBT), also benefited from a positive move by an analyst tracking its stock, along with the announcement of a new operational goal. As a result, Bit Digital's share price moved up more than a bit, closing the day over 18% higher. That was more than good enough to beat the S&P 500 index's 0.1% upward bump.
A noted Bitcoin (CRYPTO: BTC) bull's latest bulk purchase of the most popular coin -- well, by his company, anyway -- provided quite the tailwind for the company. But Bit Digital also received an upgrade.
Source Fool.com
