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53m ago

Bit Digital Buys 31,057 ETH With $150 Million Notes, Taking Treasury to 150,244

The note-funded purchase expands the Nasdaq-listed firm's Ethereum stash to roughly 150,000 tokens, underscoring its pivot to staking-led income.

Ethereum news: bit digital expands eth holdings with $150m offering
Bit Digital increases Ethereum holdings to $673M with 31,057 ETH addition
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Overview

  • Bit Digital said it used proceeds from a completed $150 million convertible notes offering to acquire about 31,057 ETH, lifting total holdings to approximately 150,244 ETH.
  • The notes carry an initial conversion price of $4.16 per share, which the company said was an 8.2% premium to its estimated $3.84 mNAV at pricing.
  • Notable participants in the financing included Kraken Financial, Jump Trading Credit, and Jane Street Capital, according to the company.
  • A September treasury report showed 122,187 ETH held with roughly 81.8% staked, generating 291 ETH in monthly rewards at a 3.37% annualized rate.
  • Management framed the transaction as accretive to NAV per share and part of a strategic shift toward an Ethereum-native treasury and staking model alongside a majority stake in WhiteFiber.