Overview
- The transaction brings Bit Digital’s Ethereum treasury to approximately 150,244 ETH, valued around $670–675 million.
- The $150 million convertible notes carry an initial conversion price of $4.16 per share, an estimated 8.2% premium to the company’s mNAV of $3.84 at pricing.
- Underwriters fully exercised their over‑allotment option, with participants including Kraken Financial, Jump Trading Credit, and Jane Street Capital.
- As of late September, 81.8% of the company’s ETH (about 99,936 tokens) was staked, generating 291 ETH in monthly rewards at roughly a 3.37% annualized rate.
- Bit Digital continues its pivot from Bitcoin mining to an Ethereum-native treasury and staking model, with disclosed mNAV of about $1.236 billion that includes a majority stake in WhiteFiber.