Bit Digital Eyes $67.3M Raise to Expand Ethereum Holdings in Continued Treasury Shift
2025-07-15 10:38:27
Main Idea
Bit Digital plans to raise $67.3 million through a share offering to expand its Ethereum holdings, continuing its strategic shift toward Ethereum.
Key Points
1. Bit Digital (Nasdaq: BTBT) announced a $67.3 million direct share offering, selling 22 million shares at $3.06 each, with proceeds aimed at expanding its Ethereum reserves.
2. The company previously converted 280 BTC into ETH and used funds from a prior offering to grow its ETH holdings, which now stand at 100,603 ETH.
3. Bit Digital's shares surged 25% following the announcement of the capital raise.
4. The offering is expected to close around July 15, pending customary closing conditions.
Description
Bit Digital (Nasdaq: BTBT) is deepening its strategic pivot toward Ethereum, announcing a $67.3 million direct share offering with proceeds designated for additional ETH purchases. This article is from Theminermag, a trade publication for the cryptocurrency mining industry, focusing on the latest news and research on institutional bitcoin mining companies. The company said Monday that
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