NEW YORK, Jan. 13, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Bit Digital, Inc. (“Bit Digital” or the “Company”) (NASDAQ: BTBT ). The investigation focuses on whether the Company may have misled investors about the company’s bitcoin mining activities.
On Jan. 11, 2021, market analyst J Capital Research issued a scathing report about the company, concluding that Bit Digital operates “a fake crypto currency business” “designed to steal funds from investors.” According to J Capital, “[t]he company reported at end Q3 2020 that it was operating 22,869 bitcoin miners in China,” but that “is simply not possible” and “[w]e verified with local governments supposedly hosting the BTBT mining operation that there are no bitcoin miners there.” On this news, Bit Digital’s stock price fell $6.27 per share, or 25%, to close at $18.76 per share on January 4, 2021.
If you purchased or otherwise acquired Bit Digital securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com , or by filling out this contact form , to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com .
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
investigations@kmllp.com
