Previously known as Golden Bull, Bit Digital operates cryptocurrency mining machines across facilities in China and the US.
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?.
This is back on the profit list. Guess crypto going up must be pushing this. Ebang on the other hand, I’ll never go near.
I’m 40% up at the minute.
Imagine it will settle down throughout the day with people taking small profits.
Up another 3% on the pre market.
22% up today. Get on it.
Just broke 14.40, hoping for something special but probably not
Still holding this. Bitcoin/Eth/XRP all up since Friday morning, I imagine this will go another 10-15% on Monday. Hoping to break the $19 mark again and stay above $20 next week, then towards the all time high of $33 is on the cards.