Neutral
PRNewsWire
19 days ago
Bit Digital Inc. Purchases 31,057 ETH With Convertible Notes Proceeds, Raising Capital at a Premium to mNAV
With one of the largest public Ethereum treasuries and a majority stake in WhiteFiber, Bit Digital is building a forward-looking balance sheet anchored by ETH and AI infrastructure NEW YORK , Oct. 8, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a leading Ethereum digital asset treasury company ("DAT"), today announced that it has purchased approximately 31,057 Ethereum ("ETH") using the net proceeds from its recently completed $150 million convertible notes offering, which included the underwriters' full exercise of their over-allotment option. The initial conversion price for the convertible notes of $4.16 per share represents an 8.2% premium to the Company's estimated mNAV at the time of deal pricing.