Overview

• The offering was increased from $100 million to $135 million, and Bit Digital shares fell about 8% to $2.92 on the update.
• Underwriters have a 30-day option to purchase up to an additional $15 million of notes to cover over‑allotments.
• The 4.00% senior unsecured notes are due Oct. 1, 2030, and are convertible at the holder’s option with settlement in cash, shares, or a combination at the company’s election; the initial conversion price is $4.16 per share, about a 30% premium to the Sept. 29 close.
• Net proceeds are estimated at approximately $128.9 million, rising to about $143.3 million if the underwriters fully exercise their option.
• Bit Digital says proceeds will be used primarily to buy ether, and it reports holding 121,252 ETH at a $2,635 average cost; the deal is offered under an effective Form S‑3 and remains subject to final pricing and SEC filings.