Bit Digital underwriters fully exercise over-allotment option, raising $162.9 million potentially for ETH purchases

According to Jinse Finance, Bit Digital (Nasdaq: BTBT) announced today that the underwriters of its recent public offering have fully exercised their over-allotment option, purchasing an additional 11.25 million ordinary shares and bringing the company approximately $21.4 million in additional net proceeds. A total of 86.25 million ordinary shares were issued in this public offering, with total net proceeds reaching $162.9 million. The company stated that it will use the funds raised to purchase Ethereum. As a digital asset platform focused on native Ethereum treasury and staking strategies, Bit Digital currently operates one of the world’s largest institutional Ethereum staking infrastructures.