Isabella García
Bit Digital, a publicly traded crypto infrastructure company on Nasdaq, has announced a direct share offering worth $67.3 million to institutional investors, with plans to use the capital to purchase more Ethereum.
In its official statement on Monday, the company revealed it will issue 22 million ordinary shares at $3.06 each, with B. Riley Securities acting as the placement agent. The offering is expected to close around July 15.
“The net proceeds from this offering will be used to acquire Ethereum,” Bit Digital stated.
Company Completes Full Bitcoin-to-Ethereum Transition
This move follows Bit Digital’s recent strategic pivot: the firm converted its entire bitcoin holdings into ether last week. As of July 7, the company holds approximately 100,603 ETH, now valued at roughly $301 million based on current prices.
Bit Digital’s Broader Crypto Infrastructure Vision
Founded as a crypto infrastructure provider, Bit Digital operates across validator services, enterprise-grade custody, and yield optimization solutions. The company began accumulating and staking Ethereum in 2022, gradually shifting its focus toward the Ethereum ecosystem.
In a separate SEC filing on Monday, Bit Digital also shared that its preliminary revenue for Q2 2025 is estimated to be between $24.3 million and $26.9 million.
Market Response and ETH Momentum
Despite the news, Bit Digital’s stock dipped slightly, closing down 1.2% at $3.29 on Monday. However, shares remain up 32.1% over the past month, reflecting growing investor interest.
At the time of writing, Ether rose 0.6% to $2,991, pushing its weekly gain to 18.3%, according to PRIME’s Ethereum price page. Meanwhile, Bitcoin slipped 0.1% to $118,852, signaling a minor pullback amid the ongoing bull cycle.
