Bit Digital is a holding company. Through its subsidiaries, Co. operates a bitcoin mining facility for the sole purpose of mining bitcoin. Co.'s mining operations are in Xinjiang, Sichuan Province and Yunnan Province in People's Republic of China, and in the State of Texas , the State of Nebraska and the State of Georgia in the U.S. Co. operates mining hardware which performs computational operations in support of the bitcoin blockchain measured in hash rate or hashes per second. Co. participates in mining pools wherein groups of miners associate to pool resources and earn cryptocurrency together allocated to each miner according to the hashing capacity they contribute to the pool. We show 2 historical shares outstanding datapoints in our BTBT shares outstanding history coverage, used to compute BTBT market cap on those dates.
Understanding the changing numbers of shares outstanding, the changing
share price, and the resulting changing BTBT market cap history over the course of time is important for investors
interested in comparing BTBT's market cap history versus its peers.
Many "beginner" or "novice" investors will look at one stock trading at a price of $10 per share and another trading at
a price of $20 per share and think the latter company is worth twice as much. Of course, that is a completely meaningless comparison without also knowing how many shares outstanding there are for each of the two companies,
and then calculating their respective market caps. Comparing the share price of BTBT versus a peer is one thing; comparing
BTBT market cap versus a peer is a completely different story.
Furthermore, via fluctuation both in per-share price and in the number of shares outstanding (via issuance of new shares over time, the repurchase of existing shares),
the market cap for a company like BTBT can fluctuate over the course of history.
With this page we aim to empower investors researching BTBT by allowing them to research the BTBT market cap history. |
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Video: The Importance of Market Cap
