BTC Digital Expands Mining Capacity in China with 220 New Units

BTC Digital, formerly known as Meten EdtechX Education Group, has acquired 220 Bitmain Antminer S19j Pro units in exchange for company stock. The company, initially focused on education, ventured into Bitcoin mining in 2021 and is now bolstering its mining operations to enhance its financial standing.

BTC Digital, a Nasdaq-listed company previously known as Meten EdtechX Education Group, has taken a significant step in expanding its Bitcoin mining capacity in China. In a recent deal with two unaffiliated third parties, the company acquired 220 Bitmain Antminer S19j Pro units. The transaction involved exchanging 276,572 shares of the company’s ordinary stock valued at $968,800.

While BTC Digital initially made a name for itself as a leading general English language training service provider in China, it shifted gears towards cryptocurrency mining at the end of 2021. Back then, the company deployed 1,482 mining machines in the United States.

BTC Digital’s CEO, Alan Peng, emphasized the company’s commitment to improving its financial position and maximizing shareholder value through these strategic purchases. The company’s stock, listed under the ticker symbol BTCT, saw a surge in activity after the rebranding from METX to BTCT and is currently valued at $3.66 per share.

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