Nasdaq-listed Bit Digital plans to raise $67.3 million through a private placement to purchase Ethereum

Odaily News Nasdaq-listed company Bit Digital announced that it plans to raise approximately $67.3 million through a private placement of 22 million common shares to institutional investors, and plans to use the funds raised to purchase Ethereum. The company has previously converted all of its Bitcoin reserves into Ethereum, holding approximately 100,603 ETH as of July 7, worth approximately $301 million. In addition, Bit Digital disclosed that its preliminary revenue for the second quarter is expected to be between $24.3 million and $26.9 million. (TheBlock)