Bit Digital Plans to Raise $67.30 Million Through Private Placement to Purchase Ethereum

On July 15, according to The Block, Nasdaq-listed Bit Digital announced its intention to raise approximately $67.30 million through a direct offering of 22.00 million ordinary shares to institutional investors, with plans to use the proceeds to purchase Ethereum.

In addition, Bit Digital disclosed preliminary estimates for second-quarter revenue between $24.30 million and $26.90 million.