Bit Digital Plans $67.3 Million Private Placement to Buy Ethereum

July 15th, according to The Block, Nasdaq-listed company Bit Digital announced its intention to raise approximately $67.3 million by privately placing 22 million common shares to institutional investors, with the plan to use the proceeds to purchase Ethereum.

In addition, Bit Digital disclosed that its preliminary estimated revenue for the second quarter is expected to be between $24.3 million and $26.9 million.