Bit Digital Inc - BTBT - Share Chat

Previously known as Golden Bull, Bit Digital operates cryptocurrency mining machines across facilities in China and the US.

Legal action?

The investigation centers on whether Bit Digital may have misled investors about the company’s bitcoin mining activities.

More specifically, on Jan. 11, 2021, market analyst J Capital Research issued a scathing report about the company, concluding that Bit Digital operates “a fake crypto currency business” “designed to steal funds from investors.”

According to J Capital , “[t]he company reported at end Q3 2020 that it was operating 22,869 bitcoin miners in China,” but that “is simply not possible” and “[w]e verified with local governments supposedly hosting the BTBT mining operation that there are no bitcoin miners there.”

“We’re focused on investor losses and whether Bit Digital may have faked its business,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

Here is the report by J Capital Research

If the company is being investigated for fraud, I’m not sure why FreeTrade decided to list it?.