NEW YORK, July 18, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), today announced that it has purchased approximately 19,683 Ethereum ("ETH") using the net proceeds from its recently completed $67.3 million registered direct offering to institutional investors. Following the transaction, Bit Digital holds approximately 120,306 ETH.  "With approximately 120,000 ETH, Bit Digital is positioned among the largest institutional Ethereum treasuries in the public markets," s ...

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].