Bit Digital raises $162.9M to purchase extra ETH for its treasury

Bit Digital raises 2.9M to purchase extra ETH for its treasury

Bit Digital has introduced a $162.9 million elevate to buy ETH for its company treasury, including to Ethereum’s rising demand from establishments.

The announcement was made on July 1, after underwriters in Bit Digital’s current public providing totally exercised their choice to purchase an extra 11.25 million shares. In complete, the corporate issued 86.25 million shares, with web proceeds amounting to $162.9 million after deducting charges and estimated providing bills. Bit Digital confirmed it’s going to use the funds to accumulate Ethereum (ETH).

Bit Digital, which trades on Nasdaq beneath the ticker BTBT, has been constructing its Ethereum technique since 2022. The corporate now runs one of many largest Ethereum staking platforms operated by a public firm. Its platform contains validator infrastructure, custody companies, and yield instruments for ETH staking.

The elevate is without doubt one of the largest single-purpose ETH capital raises by a public firm to this point. It demonstrates that corporations are beginning to view Ethereum as greater than only a expertise platform and as a stability sheet asset.

Due to its 3–5% annual staking yields, deflationary design, and talent to energy decentralized purposes, ETH has been gaining widespread enchantment. Ethereum provides corporations like Bit Digital a strategy to earn onchain yield whereas gaining publicity to probably the most broadly used property in crypto.

Different corporations have adopted related methods. SharpLink, a Nasdaq-listed firm backed by ConsenSys and led by Ethereum co-founder Joe Lubin, raised $425 million in Might to accumulate greater than 176,000 ETH.

Experiences now present its complete ETH holdings have reached over 202,000 ETH after newest purchases. BioNexus Gene Lab additionally adopted Ethereum as its foremost treasury asset earlier this 12 months and revealed a whitepaper outlining the advantages of ETH staking, 

These corporations are amongst a gaggle of about 40 individuals listed beneath the Strategic ETH Reserve, a monitoring initiative for company and organizational ETH holders. Greater than 1.2 million ETH, totaling about $3 billion, are actually held in firm reserves.

The highest 5 individuals, Ethereum Basis, SharpLink, PulseChain Sac, Coinbase, and Golem, maintain greater than 70% of all identified ETH reserves beneath the SER checklist.

Supply hyperlink

author avatar
Crypto Dunia
bitcoin
Bitcoin (BTC) $ 108,949.19 3.34%
ethereum
Ethereum (ETH) $ 2,572.23 7.14%
tether
Tether (USDT) $ 1.00 0.03%
xrp
XRP (XRP) $ 2.24 3.38%
bnb
BNB (BNB) $ 660.12 2.23%
solana
Solana (SOL) $ 153.03 4.27%
usd-coin
USDC (USDC) $ 1.00 0.01%
tron
TRON (TRX) $ 0.285698 2.41%
dogecoin
Dogecoin (DOGE) $ 0.168427 6.65%
staked-ether
Lido Staked Ether (STETH) $ 2,567.78 6.99%
cardano
Cardano (ADA) $ 0.586661 8.24%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 109,042.22 3.36%
hyperliquid
Hyperliquid (HYPE) $ 40.12 8.24%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,109.01 7.32%
bitcoin-cash
Bitcoin Cash (BCH) $ 510.06 2.00%
sui
Sui (SUI) $ 2.89 8.22%
chainlink
Chainlink (LINK) $ 13.55 5.70%
leo-token
LEO Token (LEO) $ 9.00 0.95%
avalanche-2
Avalanche (AVAX) $ 18.57 8.86%
stellar
Stellar (XLM) $ 0.238556 5.99%
usds
USDS (USDS) $ 1.00 0.00%
the-open-network
Toncoin (TON) $ 2.87 3.69%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 5.83%
weth
WETH (WETH) $ 2,572.71 7.17%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,756.33 7.23%
litecoin
Litecoin (LTC) $ 87.34 4.73%
hedera-hashgraph
Hedera (HBAR) $ 0.15547 8.03%
whitebit
WhiteBIT Coin (WBT) $ 43.66 1.00%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.02%
monero
Monero (XMR) $ 320.50 3.14%
polkadot
Polkadot (DOT) $ 3.55 8.44%
bitget-token
Bitget Token (BGB) $ 4.59 3.44%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.00%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 109,030.21 3.08%
uniswap
Uniswap (UNI) $ 7.32 11.05%
pepe
Pepe (PEPE) $ 0.00001 9.34%
aave
Aave (AAVE) $ 275.18 6.29%
pi-network
Pi Network (PI) $ 0.493774 2.75%
dai
Dai (DAI) $ 1.00 0.01%
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.18 0.05%
aptos
Aptos (APT) $ 4.74 6.27%
okb
OKB (OKB) $ 49.89 1.57%
bittensor
Bittensor (TAO) $ 334.29 4.73%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
near
NEAR Protocol (NEAR) $ 2.23 9.42%
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 185.68 4.30%
internet-computer
Internet Computer (ICP) $ 5.03 6.84%
ethereum-classic
Ethereum Classic (ETC) $ 16.96 6.50%
crypto-com-chain
Cronos (CRO) $ 0.082569 3.71%
ondo-finance
Ondo (ONDO) $ 0.786834 6.43%
usd1-wlfi
USD1 (USD1) $ 1.00 0.02%
susds
sUSDS (SUSDS) $ 1.06 0.00%
kaspa
Kaspa (KAS) $ 0.077949 6.27%
mantle
Mantle (MNT) $ 0.586222 3.42%
tokenize-xchange
Tokenize Xchange (TKX) $ 24.30 3.59%
gatechain-token
Gate (GT) $ 15.85 2.95%
cosmos
Cosmos Hub (ATOM) $ 4.18 6.65%
fasttoken
Fasttoken (FTN) $ 4.42 0.30%
vechain
VeChain (VET) $ 0.021947 8.59%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.720561 9.15%
official-trump
Official Trump (TRUMP) $ 8.85 3.37%
sky
Sky (SKY) $ 0.082005 6.99%
arbitrum
Arbitrum (ARB) $ 0.350769 7.83%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 108,797.15 2.99%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.188957 7.33%
render-token
Render (RENDER) $ 3.28 7.07%
ethena
Ethena (ENA) $ 0.277453 10.15%
filecoin
Filecoin (FIL) $ 2.38 8.00%
worldcoin-wld
Worldcoin (WLD) $ 0.951774 11.82%
sei-network
Sei (SEI) $ 0.286149 5.28%
quant-network
Quant (QNT) $ 109.32 6.04%
algorand
Algorand (ALGO) $ 0.182428 6.36%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,571.89 7.13%
jupiter-perpetuals-liquidity-provider-token
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 4.52 2.40%
first-digital-usd
First Digital USD (FDUSD) $ 0.999014 0.10%
usdtb
USDtb (USDTB) $ 1.00 0.04%
kucoin-shares
KuCoin (KCS) $ 11.18 1.44%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 162.26 4.35%
jupiter-exchange-solana
Jupiter (JUP) $ 0.459025 8.19%
usdt0
USDT0 (USDT0) $ 1.00 0.05%
bonk
Bonk (BONK) $ 0.000016 18.77%
nexo
NEXO (NEXO) $ 1.21 0.84%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,927.60 7.04%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,691.48 7.00%
trinique
TNQ (TNQ) $ 10.26 468.75%
flare-networks
Flare (FLR) $ 0.017191 2.60%
spx6900
SPX6900 (SPX) $ 1.24 14.46%
fartcoin
Fartcoin (FARTCOIN) $ 1.15 13.21%
celestia
Celestia (TIA) $ 1.60 17.48%
injective-protocol
Injective (INJ) $ 11.30 11.37%
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 1.61 13.75%
polygon-bridged-usdt-polygon
Polygon Bridged USDT (Polygon) (USDT) $ 1.00 0.02%
blockstack
Stacks (STX) $ 0.687783 8.72%
sonic-3
Sonic (S) $ 0.324769 9.50%
binance-bridged-usdc-bnb-smart-chain
Binance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999885 0.01%
optimism
Optimism (OP) $ 0.564875 7.05%
kaia
Kaia (KAIA) $ 0.169316 8.88%
xdce-crowd-sale
XDC Network (XDC) $ 0.060566 3.76%
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,754.07 7.21%
stakewise-v3-oseth
StakeWise Staked ETH (OSETH) $ 2,697.27 6.99%
Scroll to Top