Bit Digital has added over 31,000 Ethereum
This latest acquisition brings its total holdings to more than 150,000 ETH, according to data from StrategicETHReserve.xyz.
With this increase, Bit Digital currently ranks as the sixth-largest public company in terms of ETH holdings.
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The funding for this Ethereum purchase came from a $150 million convertible notes offering. The notes were issued at a price of $4.16 per share, which was 8.2% higher than the company’s estimated net asset value at the time.
Bit Digital’s current balance of about 150,244 ETH puts it behind five other large holders: Bitmine Immersion Technologies (2.83 million ETH), SharpLink Gaming (838,730 ETH), The Ether Machine (496,710 ETH), the Ethereum Foundation (222,720 ETH), and PulseChain Sac (160,900 ETH).
Several companies in the crypto industry participated in the funding round, including Kraken Financial, Jump Trading Credit, and Jane Street Capital.
Sam Tabar, CEO of Bit Digital, explained that this decision reflects the company’s approach to growing shareholder value through strategic ETH investments.
He emphasized that they view Ethereum as a core component of future financial systems and consider current market conditions favorable for long-term positions.
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