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BTC Digital Ltd. (NASDAQ: BTCT) is a U.S.-based crypto asset technology company specializing in Bitcoin mining. Known for its rapid expansion and strategic acquisitions, BTC Digital not only operates extensive mining operations but also generates revenue through mining machine resale and rental business activities.
In recent developments, BTC Digital has made significant strides in enhancing its mining capabilities. As of November 2023, the company acquired 220 units of Antminer S19j Pro Bitcoin mining machines, boosting their total operational units to 2,174, with a computing power exceeding 230PH/s. This expansion is part of their ongoing effort to strengthen financial stability and support long-term growth.
Adding to its diverse portfolio, BTC Digital launched a Bitcoin miner accessories business in December 2023. This initiative aims to offer comprehensive solutions for miners, including top-tier components to optimize machine performance and efficiency. This move is designed to support their primary mining operations and provide added value to their customers.
Furthermore, BTC Digital has entered into several strategic agreements to bolster its market presence. In December 2023, the company announced a subscription agreement for the sale of 303,497 ordinary shares, expected to raise $1,014,286. The funds are earmarked for purchasing additional mining machines, enhancing their computational power and market competitiveness.
In January 2024, BTC Digital expanded its horizons by acquiring 2,000 high-performance T21 Miners from BITMAIN, with plans to deploy them in U.S. facilities. This acquisition is poised to significantly increase their total hash rate to 614PH/s, marking a substantial growth in their mining capabilities.
Moreover, BTC Digital launched Ethereum (ETH) staking services in January 2024, marking a significant diversification from their core Bitcoin mining business. This initiative aims to capitalize on Ethereum's validator rewards program, providing new income streams and complementing their existing operations.
In March 2024, BTC Digital acquired a BTC mining facility in North Carolina, equipped with a stable power load of 10MV. This acquisition is expected to reduce operational costs and provide a consistent energy supply, further solidifying their position in the competitive mining industry.
BTC Digital Ltd. is dedicated to developing blockchain and cryptocurrency-related businesses in North America, encompassing mining, farm construction, mining pool, data center operation, and miner accessories. Their long-term strategy is to create value across the metaverse, blockchain, and cryptocurrency mining industry.
BTC Digital (NASDAQ: BTCT) announced the exercise of an over-allotment option by its underwriter in a public offering. The underwriter purchased an additional 228,853 Ordinary Shares at $8.00 per share, generating extra gross proceeds of approximately $1.8 million. Following this exercise, the total offering increased to 1,108,853 shares with total gross proceeds of approximately $8.8 million, before deducting fees and expenses. The closing is expected on December 12, 2024. Aegis Capital Corp. served as the sole book-running manager for the offering, which was made under an effective shelf registration statement on Form S-3.
BTC Digital (NASDAQ: BTCT) has successfully closed a $20 million underwritten public offering to advance its green sustainability initiatives and industry innovation. The company plans to strategically deploy these funds across three key areas:
1. Infrastructure and Energy Expansion: Construction of mining farms in North America, targeting 20 MW capacity by mid-2025, with a focus on green energy utilization.
2. Computing Power Expansion: Deployment of additional proprietary and hosted mining machines to enhance computing capabilities.
3. R&D Investments: Development of mining machines for alternative PoW cryptocurrencies, focusing on improved mining efficiency and energy performance.
The company's CEO, Peng Siguang, emphasized that this funding will enable breakthroughs in green energy applications, technological innovation, and customer service.
BTC Digital (NASDAQ: BTCT) has successfully closed its previously announced underwritten public offering, raising approximately $20.0 million in gross proceeds. The offering, which closed on December 9, 2024, consisted of 2,500,000 Ordinary Shares and Pre-Funded Warrants at $8.00 per Common Share and $7.999 per Pre-Funded Warrant.
The company granted Aegis Capital Corp., the sole book-running manager, a 45-day option to purchase additional Ordinary Shares up to 15.0% of the offering to cover over-allotments. The Pre-Funded Warrants are immediately exercisable with a $0.001 exercise price and can be exercised at any time until fully exercised.
BTC Digital (NASDAQ: BTCT) has announced the pricing of a firm commitment underwritten public offering expected to raise $20.0 million in gross proceeds. The offering consists of 2,500,000 Ordinary Shares and Pre-Funded Warrants at $8.00 per Common Share. The Pre-Funded Warrants are priced at $7.999 with a $0.001 exercise price and are immediately exercisable.
The company granted Aegis Capital Corp. a 45-day option to purchase additional shares up to 15% of the offering to cover over-allotments. The transaction is expected to close around December 9, 2024. The proceeds will be used for general corporate purposes and working capital.
BTC Digital (NASDAQ: BTCT) has announced the launch of a proposed underwritten public offering of Ordinary Shares and pre-funded warrants. The company plans to use the proceeds for general corporate and working capital purposes. Aegis Capital Corp. will serve as the sole book-running manager with a 45-day option to purchase additional shares up to 15% of the offering to cover over-allotments.
The offering is being conducted through an effective shelf registration statement on Form S-3 (No. 333-283367), which was declared effective by the SEC on December 5, 2024. The completion and terms of the offering are subject to market conditions, with no guarantees provided regarding its execution.
BTC Digital (NASDAQ: BTCT) announced plans to deploy 2,000 BITMAIN T21 miners in North American facilities within 3-6 months. The T21 miners feature 190T computational performance and 3610W energy consumption per unit. This deployment will nearly triple BTCT's total hash rate capacity to 600P. The company is accelerating preparations including logistics, installation, and network optimization to meet the deployment timeline. The initiative aims to enhance mining efficiency, increase Bitcoin output, and strengthen BTCT's market position.
BTC Digital (NASDAQ: BTCT), a global Bitcoin mining company, has announced plans to expand its mining operations across the southeastern United States. The company is targeting Arkansas, Tennessee, Georgia, and Missouri for potential new facilities. BTCT's expansion strategy includes building new facilities, acquiring existing mines, and forming strategic joint ventures with local entities to secure sustainable energy supplies. This initiative aims to increase computational power capacity while maintaining a commitment to sustainability.
BTC Digital (NASDAQ: BTCT) has signed Bitcoin miner equipment hosting agreements with Recte Technologies Company and ASIA INVESTMENT FUND SP2 to manage 1,100 Bitcoin mining machines in the United States. The agreement, signed on November 13, 2024, includes hosting and management of ANTMINER T21 and ANTMINER L7 models. Both clients have indicated plans for future large-scale purchases of mining machines and continued partnership with BTC Digital for hosting services.
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