Nasdaq-Listed Bit Digital Plans to Raise $67.3M to Expand Ethereum Treasury
2025-07-15 06:32:12
Main Idea
Nasdaq-listed Bit Digital plans to raise $67.3 million through a direct share offering to expand its Ethereum treasury, reflecting a strategic pivot toward Ethereum.
Key Points
1. Bit Digital aims to raise $67.3 million via a direct offering of 22 million shares priced at $3.06 per share, managed by B. Riley Securities, with the proceeds exclusively for purchasing Ethereum.
2. The company recently converted its entire Bitcoin holdings to Ether and held approximately 100,603 ETH as of early July, signaling a long-term commitment to Ethereum.
3. Ethereum's price rose 0.6% to $2,991, gaining over 18% in the past week, while Bitcoin remained relatively flat at $118,852.
4. Other public companies, like BIT Mining and DeFi Development Corp., are also diversifying into crypto holdings, including ETH and SOL, following the trend pioneered by Michael Saylor’s strategy.
5. Ethereum co-founder Joe Lubin mentioned the company has been purchasing tens of millions of dollars worth of ETH daily, indicating strong institutional accumulation.
Description
Nasdaq-listed crypto infrastructure firm Bit Digital announced plans to raise $67.3 million through a direct offering of 22 million ordinary shares aimed at institutional investors to expand Ethereum Treasury. Key Takeaways: Bit Digital plans to raise $67.3 million through a direct share offering to buy more Ethereum. The company recently converted its entire Bitcoin holdings to Ether. Bit Digital’s move aligns with growing institutional interest in Ethereum amid a rising crypto market. The proc...
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