PANews reported on July 15 that according to The Block, Nasdaq-listed Bit Digital announced plans to issue 22 million common shares to institutional investors through a targeted offering, expected to raise approximately $67.3 million, with the intention of using the funds to purchase Ethereum. The company had previously converted all of its Bitcoin reserves to Ethereum, holding approximately 100,603 ETH as of July 7, valued at around $301 million. Additionally, Bit Digital disclosed preliminary second-quarter revenue estimates between $24.3 million and $26.9 million.
Bit Digital plans to raise $67.3 million through private placement to purchase Ethereum
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