- BTC Digital boosts Bitcoin mining hash rate by 76 PH/s with new equipment.
- Litecoin mining enhanced by 380 GH/s, bolstering production capabilities.
- Wall Street sees potential downside despite "Outperform" recommendation.
BTC Digital (BTCT, Financial) is taking strategic steps to strengthen its mining operations. The company has deployed 400 Bitmain Antminer T21 machines, significantly enhancing its Bitcoin mining hash rate by approximately 76 PH/s. This upgrade positions BTCT to capture more of the lucrative Bitcoin market. Simultaneously, the deployment of 24 Bitmain Antminer L9 machines adds 380 GH/s to its Litecoin mining capabilities, further expanding its production and revenue potential.
Wall Street Analysts Forecast
Currently, the outlook from Wall Street analysts presents a cautious view for BTC Digital Ltd (BTCT, Financial). The average one-year price target, as projected by one analyst, stands at $3.00, with both high and low estimates pegged at $3.00. This average target indicates a potential downside of 30.48% from the current trading price of $4.32. Investors seeking more detailed forecasting data can access the BTC Digital Ltd (BTCT) Forecast page.
In terms of stock recommendations, BTC Digital Ltd is rated with an average brokerage recommendation of 2.0, suggesting an "Outperform" status. This rating falls on a scale from 1 to 5, where 1 represents a Strong Buy and 5 denotes a Sell. The sole brokerage firm covering the stock indicates a favorable outlook, albeit with noted risks.
