Ethereum sees growing institutional interest as Bit Digital raises $162.9M to buy more ETH
2025-07-02 05:44:21
Main Idea
Bit Digital raised $162.9 million to purchase Ethereum (ETH) for its staking platform, continuing its expansion in the Ethereum ecosystem.
Key Points
1. Bit Digital raised $162.9 million through a public offering, issuing 86.25 million shares after underwriters exercised their option to buy additional shares.
2. The company plans to use the proceeds to acquire Ethereum (ETH) for its staking operations.
3. Bit Digital operates one of the largest Ethereum staking platforms among public companies, offering validator infrastructure, custody services, and yield tools.
4. Ethereum's appeal stems from its 3–5% annual staking yields, deflationary design, and support for decentralized applications.
5. Other firms, such as SharpLink and BioNexus Gene Lab, have also adopted Ethereum as a treasury asset, with major holders collectively controlling over 70% of known ETH reserves.
Description
Bit Digital has announced a $162.9 million raise to purchase ETH for its corporate treasury, adding to Ethereum’s rising demand from institutions. The announcement was made on July 1, after underwriters in Bit Digital’s recent public offering fully exercised their option to buy an additional 11.25 million shares. In total, the company issued 86.25 million shares, with net proceeds amounting to $162.9 million after deducting fees and estimated offering expenses. Bit Digital confirmed it will use ...
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