Core Viewpoint - Bit Digital, Inc. has announced an upsized underwritten public offering of $135 million in convertible senior notes, with a closing date expected on October 2, 2025 [1][3]. Group 1: Offering Details - The offering consists of 4.00% convertible senior notes due October 1, 2030, which will accrue interest payable semiannually [2]. - The notes are senior, unsecured obligations, and holders can convert them into cash, ordinary shares, or a combination of both at an initial conversion rate of 240.3846 shares per $1,000 principal amount, equating to a conversion price of $4.16 per share, representing a 30% premium over the last reported sale price of $3.20 on September 29, 2025 [2]. Group 2: Use of Proceeds - The estimated net proceeds from the offering are approximately $128.9 million, or $143.3 million if the underwriters fully exercise their over-allotment option [3]. - The proceeds 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 [4]. Group 3: Underwriters and Regulatory Compliance - Barclays, Cantor, and B. Riley Securities are acting as joint lead book-running managers for the offering [4]. - The offering is made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission, which was declared effective on June 20, 2025 [5].