‘MicroStrategy Of Ethereum’ Approach Gains Popularity As BitDigital Raises $163 Million
Bit Digital Inc. (NASDAQ:BTBT) has successfully raised approximately $163 million through an underwritten share offering, with the full exercise of underwriters’ option enabling the company to launch an Ethereum (CRYPTO: ETH) treasury initiative.
What Happened: The Nasdaq-listed firm issued 86.25 million ordinary shares, securing net proceeds of $162.9 million to acquire and stake ETH as part of its corporate treasury strategy.
This move reflects a growing trend among public companies adopting crypto treasury strategies.
BitMine Immersion Technologies (AMEX:BMNR) recently completed a $250 million private placement to establish an ETH treasury, signaling its transition from Bitcoin-only holdings.
Similarly, SharpLink Gaming (NASDAQ:SBET), a Nasdaq-listed entity, became the largest public ETH holder, expanding its treasury to 198,167 ETH by …
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