Bit Digital Secures $67.3 Million in Direct Offering for Ethereum Investments

On July 14, 2025, Bit Digital, Inc., a publicly traded digital asset platform, disclosed its plans to execute a registered direct offering of its ordinary shares. The company has entered into an agreement with B. Riley Securities, Inc., which will act as the placement agent for this offering. This initiative aims to raise approximately $67.3 million from certain institutional investors, by selling 22 million ordinary shares at an offering price of $3.06 each.

The offering is anticipated to close around July 15, 2025, subject to the fulfillment of standard closing conditions. The net proceeds from this offering will be directed towards enhancing the company's Ethereum holdings, thus reinforcing its position in the digital asset sphere.

Strategic Use of Funds

Bit Digital is committed to leveraging the raised funds to boost its Ethereum treasury, substantiating its strategy of staking and treasury management within the Ethereum blockchain ecosystem. The company has been actively involved in accumulating and staking Ethereum (ETH) since 2022, making it one of the largest institutional stakeholders in the Ethereum staking infrastructure globally. By continuing to invest in Ethereum, Bit Digital aims to provide secure, scalable, and compliant access to on-chain yields for its stakeholders.

About the Offering

This offering is being executed under a shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission (SEC) on April 30, 2025, and received effectiveness on June 20, 2025. Subsequently, a preliminary prospectus supplement has been filed with the SEC, with a final prospectus and accompanying documents to be made available to investors. Interested parties will be able to obtain these documents from B. Riley Securities directly or online through the SEC's website.

This transaction is significant for Bit Digital as it enhances its capability to execute a more robust Ethereum-based strategy, crucial for its long-term vision of securing digital assets continuously.

Future Outlook

Bit Digital's strategy is primarily focused on Ethereum, which is one of the most commonly used blockchain platforms for decentralized applications and smart contracts. As the company continues to pursue its goals, it remains focused on careful management of the inherent risks associated with the cryptocurrency market, including volatility and regulatory changes. The securities market welcoming Bit Digital's offering highlights growing institutional interest in cryptocurrencies.

Investors need to remain abreast of ongoing developments and should evaluate the risks involved, especially with projections and forecasts provided in the company’s periodic reports filed with the SEC. Bit Digital's emphasis on communicating its strategic goals and market movements presents an opportunity for investors looking to navigate the evolving landscape of digital assets.

In conclusion, Bit Digital's $67.3 million direct offering represents a significant investment in Ethereum, showcasing the company's commitment to its digital asset platform development and the ongoing growing interest in the Ethereum ecosystem.