Bit Digital, Inc. Completes Full Exercise of Underwriters’ Option on Additional Shares

On July 1, 2025, Bit Digital, Inc. (Nasdaq: BTBT) announced a significant milestone in its recent public offering. The company revealed that the underwriters of its latest underwritten public offering have fully exercised their option to purchase an additional 11,250,000 ordinary shares. This exercise is anticipated to yield approximately $21.4 million in net proceeds for the company, prior to accounting for estimated offering expenses.

Following the completion of this option exercise, the total number of ordinary shares sold by Bit Digital in this underwritten public offering reached 86,250,000. The aggregate net proceeds from the offering, including the option's full execution, are projected to be around $162.9 million. This figure is calculated after deducting underwriting discounts and expected expenses associated with the offering.

The purpose of these funds is quite strategic. Bit Digital intends to utilize the net proceeds to bolster its Ethereum holdings, reinforcing its commitment to its core mission. As a digital asset platform, Bit Digital has shifted its operational focus towards Ethereum treasury and staking strategies. The company began accumulating and staking Ethereum (ETH) in 2022, which has positioned it as one of the largest institutional Ethereum staking infrastructures on a global scale.

B. Riley Securities has been named the sole book-running manager for the offering, while Clear Street, Craig-Hallum, and Northland Capital Markets acted as co-managers, demonstrating the strong backing behind the company’s financial maneuvers.

The shares in question were offered under a shelf registration statement on Form S-3, effectively filed with the Securities and Exchange Commission (SEC). This registration statement was initially submitted on April 30, 2025, and was declared effective by the SEC on June 20, 2025. Furthermore, a final prospectus supplement and corresponding prospectus have been submitted to the SEC and are available for interested parties.

It’s worth noting that this announcement does not serve as an offer to sell or solicit an offer to buy the mentioned securities. Sales of these securities are contingent on compliance with the specific laws of other states or jurisdictions.

About Bit Digital

Bit Digital is a publicly traded entity specializing in digital assets, with a concentrated focus on Ethereum-related treasury and staking mechanisms. The company strives to leverage its advanced validator operations alongside institutional-grade custody measures and active protocol governance to deliver a compliant and secure on-chain yield. This commitment to innovation in the Ethereum ecosystem exemplifies Bit Digital's dedication to enhancing its market position and ensuring operational excellence. For additional inquiries, individuals may reach out via email at [email protected].

A Note of Caution

As stated in their accompanying communications, Bit Digital's press release may include certain forward-looking statements encompassing potential risks and uncertainties associated with its business operations. These statements, identified by terms like "believes," "intends," or "expects," emphasize that actual results may diverge from these projections. Investors are advised to review Bit Digital's Annual Report on Form 10-K for a comprehensive overview of risk factors before making any investment decisions.

In conclusion, Bit Digital’s strategic moves in the Ethereum market, supported by successful fundraising efforts, reflect its ambition and potential in the ever-evolving landscape of digital asset management. With the backing of leading financial entities and a solid operational foundation, the company appears well-positioned to navigate future opportunities and challenges in the cryptocurrency domain.