Brock J. Pierce, director, disclosed the purchase of 500,000 shares of Bit Digital (BTBT 8.96%) at $2 per share, totaling approximately $1 million, as reported in a Form 4 filing dated June 27, 2025. Pierce now directly owns 500,000 shares and indirectly owns 80,000 shares through Percival Services, LLC.
Bit Digital is a digital asset mining business focused on Bitcoin, operating at scale with $163.76 million in 2024 revenue. It is engaged in Bitcoin mining and Treasury management activities.
While we as investors should never transact in a stock purely based on an insider’s actions, this one is notable. Pierce is essentially placing a $1 million bet on the future of Bit Digital, and by extension, the future trajectory of Bitcoin (BTC -0.00%).
As with many crypto miners/stakers, people who are bullish on Bitcoin and Ethereum (ETH 3.06%) — Bit Digital’s other favored crypto — should take this as a strong vote of confidence and consider buying the stock. Its fortunes are, after all, tied to the success of those assets.
Regarding that, as long as cryptocurrencies generally are a viable asset class, Bitcoin and Ethereum, as the top two, should generally appreciate. A word of caution here, though — digital currencies (and the stocks of companies that mine/stake them) are quite volatile relative to more traditional investments like stocks or bonds. So they are recommended only for investors with an above-average tolerance for risk.
