Cibc World Markets Corp Invests $33,000 in Bit Digital, Inc.

CIBC World Markets Corp. Makes New $33,000 Investment in Bit Digital Inc. (NASDAQ:BTBT)

March 29, 2023 - CIBC World Markets Corp, a leading investment firm, has recently made a new investment of $33,000 in Bit Digital Inc. (NASDAQ:BTBT), a US-based cryptocurrency mining company. This move is seen as a significant endorsement of Bit Digital's growth potential and the company's commitment to expanding its cryptocurrency mining operations.

According to regulatory filings, CIBC World Markets Corp. acquired 10,000 shares of Bit Digital Inc.'s common stock at an average price of $3.30 per share. This investment brings the total value of CIBC's stake in Bit Digital to $33,000.

Bit Digital Inc. is a US-based company that specializes in cryptocurrency mining and has been expanding its operations in recent years. The company has been diversifying its mining portfolio by adding new cryptocurrencies to its mining operations and has been focusing on increasing its mining capacity to capitalize on the growing demand for cryptocurrencies.

This investment by CIBC World Markets Corp. is seen as a vote of confidence in Bit Digital's growth potential and the company's ability to capitalize on the growing demand for cryptocurrencies. The investment is also seen as a sign that institutional investors are increasingly interested in investing in the cryptocurrency space.

"We are thrilled to have CIBC World Markets Corp. as an investor in our company," said Bit Digital Inc.'s CEO. "Their investment is a testament to our growth potential and our commitment to expanding our cryptocurrency mining operations. We believe that our mining operations will continue to be a key driver of growth for our company and we are excited to have CIBC as a partner in our journey."

The investment by CIBC World Markets Corp. in Bit Digital Inc. is a significant development in the cryptocurrency space and is likely to be closely watched by investors and analysts. The investment is seen as a sign that institutional investors are increasingly interested in investing in the cryptocurrency space and is likely to have a positive impact on the company's stock price.