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 the second quarter revenue to be between $24.30 million and $26.90 million.