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Futures
Futures
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HOT
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Simple Earn
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- 📢 Gate Square Ambassador Recruitment is Now Open! 🔥
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Bit Digital announced financing of $162.9 million and transitioned to an Ethereum treasury.
Gate News bot message, Nasdaq-listed company Bit Digital (BTBT) announced that the company raised approximately $162.9 million in net proceeds through a stock issuance. According to The Block, the company plans to use these funds to establish an Ethereum treasury and undergo a business transformation.
Bit Digital has decided to convert approximately 417.6 Bitcoins (worth about $44.9 million) currently held into Ether. Data shows that the company has been accumulating and staking Ethereum since 2022, and by the end of the first quarter of 2025, its Ethereum holdings will reach 24,434.2 ETH, with a total value exceeding $59.8 million.