Nasdaq-listed Bit Digital plans to raise $67.3 million to purchase Ethereum

According to ChainCatcher, as reported by The Block, Nasdaq-listed company Bit Digital announced on July 14 that it plans to raise approximately $67.3 million by directly issuing 22 million common shares to institutional investors, with all proceeds to be used for purchasing Ethereum (ETH). Each share is priced at $3.06, with B. Riley Securities acting as the placement agent. The transaction is expected to be completed on July 15.

The previous week, the company had already converted its entire Bitcoin holdings into Ethereum and currently holds approximately 100,603 ETH (valued at around $301 million).