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Benzinga
Benzinga
Business
Murtuza J Merchant

'MicroStrategy Of Ethereum' Approach Gains Popularity As BitDigital Raises $163 Million

MicroStrategy Strategy Ethereum Nasdaq Bitcoin Bit Digital BTBT Crypto
Ethereum,Virtual,Currency,On,Black,Screen

Bit Digital Inc. (NASDAQ:BTBT) has successfully raised approximately $163 million through an underwritten share offering, with the full exercise of underwriters' option enabling the company to launch an Ethereum (CRYPTO: ETH) treasury initiative.

What Happened: The Nasdaq-listed firm issued 86.25 million ordinary shares, securing net proceeds of $162.9 million to acquire and stake ETH as part of its corporate treasury strategy.

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