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The construction crew has left. The mining machines have not arrived.
BTC Digital said on August 24 that its 10-megawatt cryptocurrency mining facility in Georgia is fully built, and that the company expects to begin deploying mining equipment within about two months. At full deployment, the company says the site is designed to handle up to about 900 PH/s of computing power — the measure of how fast a mining operation can run the calculations required to earn Bitcoin.
The release does not say how many machines BTC Digital has ready to deploy, what they cost, or how the build-out is being financed. It also gives no timeline for reaching full capacity, saying the pace will be adjusted based on power progress, Bitcoin network difficulty, and digital-asset prices.
Shares closed 52.63% higher at $1.7400 after the announcement, on dollar volume of about $378 million.
That figure deserves context. The company's free float is about 8.97 million shares. Reported short volume on the same session was about 52 million shares — several times the entire float — and made up about 56% of reported volume. Short volume at that scale relative to a float can reflect a range of activity, including market-maker hedging, and is not by itself evidence of one-sided pressure. The release gives no explanation for the price move.
Alongside the new facility, BTC Digital describes a "dual-engine" strategy: cryptocurrency mining on one side, AI computing infrastructure on the other. According to the release, the company believes the two share common ground in power procurement, data centre construction, and equipment operations, with capabilities built through projects like the Georgia site carrying over into future AI work.
Management said in the release that once operations begin, machines would be deployed "progressively" based on conditions including network difficulty and digital-asset prices — meaning the two-month window is the start of deployment, not the end of it.