Bit Digital, Inc. Announces $67.3 Million Registered Direct Offering of its Ordinary Shares
Bit Digital (NASDAQ:BTBT) has announced a registered direct offering of 22 million ordinary shares at $3.06 per share to institutional investors. The offering is expected to generate approximately $67.3 million in gross proceeds before deducting fees and expenses.
The offering, managed exclusively by B. Riley Securities as the Placement Agent, is anticipated to close around July 15, 2025. Notably, Bit Digital plans to use the net proceeds to purchase Ethereum. The offering is being conducted under a shelf registration statement that became effective on June 20, 2025.
Bit Digital (NASDAQ:BTBT) ha annunciato un'offerta diretta registrata di 22 milioni di azioni ordinarie a 3,06 dollari per azione rivolta a investitori istituzionali. L'offerta dovrebbe generare circa 67,3 milioni di dollari di proventi lordi prima delle commissioni e delle spese.
L'offerta, gestita esclusivamente da B. Riley Securities come Agente di Collocamento, è prevista per concludersi intorno al 15 luglio 2025. In particolare, Bit Digital intende utilizzare i proventi netti per acquistare Ethereum. L'offerta viene effettuata nell'ambito di una dichiarazione di registrazione a scaglioni entrata in vigore il 20 giugno 2025.
Bit Digital (NASDAQ:BTBT) ha anunciado una oferta directa registrada de 22 millones de acciones ordinarias a 3,06 dólares por acción para inversores institucionales. Se espera que la oferta genere aproximadamente 67,3 millones de dólares en ingresos brutos antes de deducir comisiones y gastos.
La oferta, gestionada exclusivamente por B. Riley Securities como Agente de Colocación, se espera que cierre alrededor del 15 de julio de 2025. Cabe destacar que Bit Digital planea usar los ingresos netos para comprar Ethereum. La oferta se realiza bajo una declaración de registro en estantería que entró en vigor el 20 de junio de 2025.
Bit Digital (NASDAQ:BTBT)는 기관 투자자들을 대상으로 주당 3.06달러에 2,200만 보통주를 등록 직접 공모한다고 발표했습니다. 이번 공모를 통해 수수료와 비용 차감 전 약 6,730만 달러의 총 수익이 예상됩니다.
이번 공모는 배치 에이전트로서 B. Riley Securities가 단독으로 관리하며, 2025년 7월 15일경 마감될 예정입니다. 특히 Bit Digital은 순수익을 이더리움 구매에 사용할 계획입니다. 이 공모는 2025년 6월 20일 발효된 선반 등록명세서에 따라 진행됩니다.
Bit Digital (NASDAQ:BTBT) a annoncé une offre directe enregistrée de 22 millions d'actions ordinaires à 3,06 dollars par action destinée aux investisseurs institutionnels. L'offre devrait générer environ 67,3 millions de dollars de produits bruts avant déduction des frais et dépenses.
L'offre, gérée exclusivement par B. Riley Securities en tant qu'agent de placement, devrait se clôturer aux alentours du 15 juillet 2025. Notamment, Bit Digital prévoit d'utiliser les produits nets pour acheter de l'Ethereum. L'offre est réalisée dans le cadre d'une déclaration d'enregistrement sur étagère entrée en vigueur le 20 juin 2025.
Bit Digital (NASDAQ:BTBT) hat eine registrierte Direktplatzierung von 22 Millionen Stammaktien zu 3,06 US-Dollar pro Aktie für institutionelle Investoren angekündigt. Die Emission soll vor Abzug von Gebühren und Ausgaben etwa 67,3 Millionen US-Dollar Bruttoerlös erzielen.
Das Angebot, das exklusiv von B. Riley Securities als Platzierungsagent verwaltet wird, soll voraussichtlich um den 15. Juli 2025 abgeschlossen werden. Bit Digital plant, die Nettoerlöse zum Kauf von Ethereum zu verwenden. Die Platzierung erfolgt im Rahmen einer Shelf-Registrierung, die am 20. Juni 2025 in Kraft getreten ist.
- Expected to raise $67.3 million in gross proceeds
- Strategic investment in Ethereum cryptocurrency
- Potential dilution for existing shareholders with 22 million new shares being issued
Insights
Bit Digital's $67.3M share offering significantly dilutes existing shareholders but provides substantial capital for Ethereum investment strategy.
Bit Digital (NASDAQ: BTBT) has arranged a $67.3 million registered direct offering through B. Riley Securities, selling 22 million ordinary shares at $3.06 per share to institutional investors. This represents a substantial capital raise for the crypto mining company that intends to use the proceeds specifically for purchasing Ethereum rather than operational expenses or mining equipment.
The offering structure reveals several key insights. First, the 22 million new shares likely represents significant dilution to existing shareholders, as this appears to be a substantial increase to the company's outstanding share count. Second, the decision to earmark proceeds specifically for Ethereum acquisition marks a strategic shift toward holding this particular cryptocurrency asset rather than expanding mining operations.
This move represents a clear bet on Ethereum's future value appreciation rather than Bit Digital's core mining business. By directly purchasing Ethereum instead of mining equipment, the company is making a statement about expected returns - suggesting management believes direct crypto investment currently offers better value than expanding their mining capacity. This approach provides immediate exposure to Ethereum without the operational complexities and electricity costs of mining.
The placement with institutional investors, facilitated by B. Riley Securities, indicates continued institutional interest in gaining cryptocurrency exposure through public equities, even if it comes with dilution for existing shareholders. The transaction is expected to close quickly, by July 15, 2025, suggesting all parties are eager to complete the deal under current market conditions.
The Company intends to use the net proceeds from the proposed offering to purchase Ethereum.
B. Riley Securities is acting as the exclusive Placement Agent for the offering.
The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3, as amended, including a base prospectus, that was originally filed with the Securities and Exchange Commission (the "SEC"), by the Company on April 30, 2025 and was declared effective on June 20, 2025. A preliminary prospectus supplement relating to the offering has been filed with the SEC, and a final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from: B. Riley Securities, 1300 17th Street North, Suite 1300, Arlington, VA 22209, Attention: Prospectus Department, by telephone at (703) 312-9580 or by email at prospectuses@brileysecurities.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Bit Digital
Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. The Company began accumulating and staking ETH in 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital's platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the Ethereum ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield. For additional information, please contact ir@bit-digital.com or follow us on LinkedIn or X.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact, included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "intends," "expects," or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report) and any subsequently filed quarterly reports on Form 10-Q and any Current Reports on Form 8-K. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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SOURCE Bit Digital, Inc.
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