Bit Origin Soars 26.42% on Share Capital Reduction Hearing

On May 22, 2025, Bit Origin (BTOG) experienced a significant surge, rising by 26.42% in pre-market trading, indicating a strong bullish sentiment among investors.

Bit Origin's short interest stands at 1.19 million shares, representing 16.67% of the float. This high level of short interest suggests that a significant portion of the market is betting against the stock, which could potentially lead to a short squeeze if the stock continues to rise.

Bit Origin's latest twelve months book value per share is -0.15, which is a significant decrease from the average book value per share of 8.47 over the fiscal years ending from June 2020 to 2024. This decline in book value could be a concern for investors, as it indicates that the company's assets may not be sufficient to cover its liabilities.

Bit Origin announced that a court hearing will be held at 10:00 a.m. on June 5 to consider the confirmation of its proposed share capital reduction. This news could have a significant impact on the stock price, as a reduction in share capital could lead to an increase in earnings per share and potentially attract more investors.