Bit Digital Snaps Up 31,000 ETH in $140M Ethereum Bet

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Bit Digital purchased 31,057 ETH worth $140 million, bringing its total holdings to over 150,000 ETH and making it the sixth-largest Ethereum treasury.

Bit Digital expanded its Ether holdings to more than 150,000 ETH after purchasing 31,057 ETH valued at about $140 million using proceeds from a $150 million convertible notes sale.

The deal, which included full exercise of underwriters’ options, positions the firm as the sixth-largest Ether treasury among public companies, according to data from StrategicETHReserve.xyz.

“This purchase demonstrates our commitment to building shareholder value by financing ETH accumulation on terms that are accretive to NAV per share,” said Sam Tabar, CEO of Bit Digital. “We view ETH as foundational to digital financial infrastructure and believe current levels provide a compelling long-term entry point,” Tabar added.

The newly acquired ETH was funded through Bit Digital’s convertible notes, priced at $4.16 per share, a premium of 8.2% to the company’s mark-to-market net asset value (mNAV) at the time of pricing. Investors participating in the offering included notable crypto institutions such as Kraken Financial, Jump Trading Credit and Jane Street Capital.


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