Bitcoin mining company Bit Digital raises $150 million to fully transition to Ethereum business.

On June 27, cryptocurrency mining company Bit Digital raised $150 million in an IPO to accelerate its transition from Bitcoin mining to Ethereum equity and capital operations. The company issued 75 million shares at a price of $2 per share, with an additional 11.25 million shares available to underwriters through 30-day options. The proceeds from this issuance will be used for the acquisition of Ethereum, marking one of the largest public ETH financial commitments to date.

This fundraising officially confirmed the company's strategic exit from the Bitcoin mining industry, and the company now plans to sell or close this business. As of March 31, Bit Digital held approximately 24,434 ETH and 418 BTC, and plans to fully convert its holdings of Bitcoin into Ethereum over time.

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GateUser-00be86fcvip
· 06-30 03:06
Traitor company ah
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CafeMinorvip
· 06-28 21:10
Isn't Bitcoin appealing anymore?
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PessimisticLayervip
· 06-27 03:36
This farewell is so touching, I really shed tears.
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CantAffordPancakevip
· 06-27 03:35
Switching to ETH has some potential.
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NftPhilanthropistvip
· 06-27 03:34
another proof that ethereum's proof of stake is the future of sustainable philanthropy tbh
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pvt_key_collectorvip
· 06-27 03:27
Mining will definitely lose money, but turning it around is the right solution.
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ShitcoinConnoisseurvip
· 06-27 03:21
Isn't it fragrant? Sister
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mev_me_maybevip
· 06-27 03:20
Ridiculous, watching BTC To da moon and directly jumping to ETH.
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TokenEconomistvip
· 06-27 03:09
actually, this represents a classic capital reallocation within pow -> pos paradigm...
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