BTBT Boosted by Additional Share Purchase

Bit Digital, Inc. (NASDAQ:BTBT) is among the best get rich quick stocks to buy now. Earlier last week, Bit Digital, Inc. (NASDAQ:BTBT) announced that the underwriters of its previous public offering have proceeded to acquire an additional 11.25 million ordinary shares, worth around $21.4 million.

The option was fully exercised, with a total of 86.25 million shares sold during the public offering. After accounting for underwriting discounts and estimated expenses, Bit Digital, Inc. (NASDAQ:BTBT) generated roughly $162.9 million in net proceeds. The timing of this capital raise is quite noteworthy, as the company plans to purchase Ethereum. A testament to the company’s growth efforts is the stock’s 66.98% rise in the past five days.

The company is parting ways with Bitcoin and shifting its focus towards high-margin ETH staking and HPC services. The reason why BTBT is considered a “get-rich stock” is that it is now closely tied to ETH price volatility, and with just one jump, Bit Digital, Inc. (NASDAQ:BTBT) will likely move past its rough days.

Bit Digital, Inc. (NASDAQ:BTBT) is a New York-based bitcoin mining business that was incorporated in 2015. The company designs, develops, and manages high-performance computing (HPC) data centers offering not only hosting and colocation services but also cloud-based HPC graphics processing units for AI and machine learning developers.

While we acknowledge the potential of BTBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

While we acknowledge the potential of BTBT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BTBT and that has 100x upside potential, check out our report about this cheapest AI stock.

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