Core Viewpoint - Bit Digital has strategically increased its Ethereum holdings, viewing Ethereum as foundational to the future of digital financial infrastructure and committing to scaling its ETH assets as part of a long-term strategy [2][3]. Group 1: Company Actions - Bit Digital purchased approximately 19,683 Ethereum using net proceeds from a $67.3 million registered direct offering, bringing its total ETH holdings to approximately 120,306 [1]. - The company operates Ethereum infrastructure and stakes the majority of its ETH holdings, earning yield while contributing to the network's security and performance [3][4]. Group 2: Industry Positioning - With around 120,000 ETH, Bit Digital is positioned among the largest institutional Ethereum treasuries in public markets, emphasizing Ethereum's role in real economic activities and as a core collateral layer for stablecoins and decentralized applications [2][3]. - The company aims to provide regulated exposure to Ethereum's underlying economics through traditional equity vehicles, combining operational involvement with compliance standards [3][4]. Group 3: Strategic Vision - Bit Digital views Ethereum's programmable nature, growing adoption, and staking yield model as critical components of the future of digital assets, positioning it as a global coordination layer for the emerging onchain economy [2][3]. - The company has been accumulating and staking ETH since 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally, focusing on secure, scalable, and compliant access to onchain yield [4].

Core Viewpoint - Bit Digital, Inc. has successfully completed an underwritten public offering, raising approximately $162.9 million in net proceeds, which will be used to purchase Ethereum [2]. Group 1: Offering Details - The underwriters fully exercised their option to purchase an additional 11,250,000 ordinary shares, resulting in additional net proceeds of about $21.4 million [1]. - A total of 86,250,000 ordinary shares were issued and sold in the offering, leading to net proceeds of approximately $162.9 million after deducting underwriting discounts and estimated offering expenses [2]. Group 2: Use of Proceeds - The company intends to use the net proceeds from the offering to purchase Ethereum [2]. Group 3: Management and Registration - B. Riley Securities acted as the sole bookrunning manager, with Clear Street, Craig-Hallum, and Northland Capital Markets serving as co-managers for the offering [3]. - The offering was conducted under a shelf registration statement on Form S-3, which was filed with the SEC on April 30, 2025, and declared effective on June 20, 2025 [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 [6]. - The company began accumulating and staking ETH in 2022 and aims to provide secure, scalable, and compliant access to on-chain yield through strategic partnerships across the Ethereum ecosystem [6].