Bit Digital buys 31,057 after $150m offering
The post Bit Digital buys 31,057 after $150m offering appeared on BitcoinEthereumNews.com.
Bit Digital is doubling down on its Ethereum digital-asset treasury strategy with an additional purchase of more than 31,000 Ether tokens. Summary Bit Digital has expanded its Ethereum treasury strategy after a $150 million convertible notes offering. The company announced it purchased 31,057 ETH, with total holdings at 150,244 ETH. Ethereum price has jumped in recent months amid increased corporate treasury asset bets. Nasdaq-listed Bit Digital is showing fresh commitment to its Ethereum treasury strategy. In a press release, it hailed the purchase of approximately 31,057 ETH as a signal to the company’s long-term outlook. The move follows Bit Digital’s $150 million convertible notes offering, whose proceeds the company, as other top Ethereum (ETH) digital asset treasury companies have shown in recent months, has deployed towards buying ETH. Following the latest purchase, the company now holds 150,244 of the Ethereum token. At current prices, the company’s ETH stash is valued at over $670 million, up from the $436 million ETH stash the company announced in July. The company raised $162 million at the time as it entered the Ethereum treasury play. Bit Digital’s big move From an Ethereum-news perspective, this is a significant step for the publicly traded firm. It underscores Bit Digital’s rapid expansion as a major DAT player. “This purchase demonstrates our commitment to building shareholder value by financing ETH accumulation on terms that are accretive to NAV per share. The structure of our convertible notes allowed us to raise capital at a premium to mNAV, and we have deployed those proceeds directly into ETH,” said Sam Tabar, chief executive officer of Bit Digital, Inc. Notably, Bit Digital’s estimated mark-to-market net asset value, or mNAV, stood at approximately $3.84 per share at the time of pricing. With the initial conversion price of the offering at $4.16 per share,…
Filed under: News - @ October 8, 2025 10:28 pm