Bitcoin price has been on a rise and has crossed the US$12,000 mark. Market experts believe current FOMO as a major driver for the recent price rise though other financial giants are also entering the market.
Bit Digital Inc., a NASDAQ listed mining company in the US, has invested more than US$10 million in bitcoin, buying roughly 1,000 extra BTCs.
The Company has reported a significant rise in its profits for the first 2 quarters of 2020 in a press release. Subsequently, Bit Digital Inc. bought 100 new high-performance MicroBT M21S Bitcoin miners in September. Hence, the hash rate rose to 1.25 PH/s.