Bit Digital, a company listed on the Nasdaq stock exchange, has announced plans to significantly increase its authorized share capital to 1 billion shares.
The primary objective behind this capital restructuring move is to secure additional funding specifically aimed at increasing the company’s holdings of Ethereum (ETH).
This strategic decision underscores Bit Digital’s significant focus on and commitment to expanding its position within the Ethereum ecosystem. The proposal requires shareholder approval and seeks to enhance the company’s capacity to raise capital through future equity offerings.
By increasing its ETH treasury, Bit Digital intends to bolster its digital asset portfolio, aligning its strategy with the growing institutional interest in major cryptocurrencies and blockchain infrastructure.