Nasdaq-listed crypto infrastructure company Bit Digital (NASDAQ: BTBT), which recently unveiled its Ethereum treasury strategy, plans to raise $67.3 million through a direct offering of 22 million ordinary shares to institutional investors. The proceeds from this offering are specifically earmarked for the purchase of Ethereum (ETH).
In a statement released Monday, Bit Digital announced the shares are priced at $3.06 each, with B. Riley Securities acting as the placement agent. The offering is anticipated to conclude on or around July 15, according to the company.
“The Company intends to use the net proceeds from the proposed offering to purchase Ethereum,” Bit Digital affirmed. This latest capital raise follows Bit Digital’s significant announcement last week, where it revealed the conversion of its entire Bitcoin treasury into Ether. As of July 7, the company held approximately 100,603 ETH, valued at around $301 million based on current market prices.
Bit Digital, known for its crypto infrastructure services including validator operations, enterprise-level custody, and yield optimization, began accumulating and staking Ether in 2022. This strategic shift further cements its focus on the Ethereum ecosystem.
In a separate filing with the Securities and Exchange Commission on Monday, the company also provided preliminary estimated revenue for the second quarter, ranging between $24.3 million and $26.9 million.
On Monday, Bit Digital’s stock closed down 1.2% at $3.29, according to Yahoo Finance data, despite being up 32.1% over the past month. Meanwhile, Ether edged up 0.6% to $2,991 at the time of writing, demonstrating an 18.3% increase over the past week amidst a broader crypto rally. Bitcoin, in contrast, saw a slight dip of 0.1%, trading at $118,852.
July 2025, Cryptoniteuae
