Nasdaq-listed Bit Digital plans to raise $67.30 million through a private placement to purchase Ethereum

Nasdaq-listed Bit Digital announced its intention to raise approximately $67.30 million through a private placement of 22.00 million ordinary shares to institutional investors, with plans to use the proceeds to purchase Ethereum. The company had previously converted its entire Bitcoin reserve into Ethereum, holding approximately 100,603 $ETH as of July 7, worth approximately $301.00 million. In addition, Bit Digital disclosed preliminary estimates for second-quarter revenue between $24.30 million and $26.90 million. (TheBlock) [Odaily Planet Daily News]