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Bit Digital announced plans to raise $100 million through a public offering of convertible senior notes, with proceeds primarily earmarked for ethereum purchases and broader digital asset opportunities.
Crypto Miner Bit Digital to Raise $100 Million via Convertible Notes
Bit Digital, Inc. (Nasdaq: BTBT) has unveiled plans to raise $100 million through a registered public offering of convertible senior notes due 2030.
According to the announcement, the company is also granting underwriters a 30-day option to purchase up to an additional $15 million in notes to cover over-allotments. Investors may convert their holdings into cash, Bit Digital’s ordinary shares, or a combination of both.
Proceeds from the sale are expected to be used primarily to acquire ethereum, marking a notable strategic pivot into direct digital asset holdings. Additional funds may go toward acquisitions, investments, or other corporate purposes tied to the company’s blockchain and digital asset strategy.
By turning to convertible debt, Bit Digital is following a financing path seen in other crypto-linked companies looking to expand exposure to digital assets while offering investors potential upside through equity conversion.