Bit Digital Announces Proposed Offering of $100 Million Convertible Notes

Core Viewpoint - Bit Digital, Inc. has announced a proposed public offering of $100 million in convertible senior notes due 2030, with an option for underwriters to purchase an additional $15 million to cover over-allotments [1][3]. Group 1: Offering Details - The offering consists of $100 million aggregate principal amount of convertible senior notes, maturing on October 1, 2030, unless converted, redeemed, or repurchased earlier [1][2]. - The notes will be senior, unsecured obligations, and holders can convert them into cash, ordinary shares, or a combination of both prior to maturity [2]. - The interest rate and initial conversion rate will be determined at the time of pricing [2]. Group 2: Use of Proceeds - The net proceeds from the offering will primarily be used to purchase Ethereum and may also be allocated for general corporate purposes, including potential investments and acquisitions related to digital assets [3]. Group 3: Regulatory and Procedural Information - The offering will be made under an effective shelf registration statement filed with the SEC, which was declared effective on June 20, 2025 [4]. - Preliminary prospectus supplements and accompanying prospectus have been filed with the SEC and are available on their website [4]. Group 4: Company Overview - Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies, operating one of the largest institutional Ethereum staking infrastructures globally [7].