BTCT Shares Soar as Georgia Mining Facility Nears Full Deployment

BTC Digital Ltd. (BTCT) shares skyrocketed over 50% in premarket trading on Monday after announcing the completion of its 10-megawatt cryptocurrency mining facility in Georgia.

The Singapore-headquartered company said it expects the site to reach deployment readiness within two months, with high-performance mining machines to be deployed and digital asset mining operations set to commence.

The stock surged as high as 120% in morning trading, reaching its highest level of the year so far. The facility is designed to support up to 900,000 TH/s of theoretical computing capacity, equivalent to approximately 0.1% of the Bitcoin network's current capacity.