Bit Digital Raises $100 Million to Boost Ethereum Holdings

Bit Digital raises $100 million through convertible notes to boost Ethereum holdings and expand its market presence.

Fridah Kangai
October 1, 2025
12:30 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Bit Digital raises $100 million to boost Ethereum holdings significantly.
Ethereum staking shift strengthens Bit Digital’s position in crypto market.
New offering reflects Bit Digital’s confidence in Ethereum’s growth potential.

Bit Digital has announced plans to raise $100 million through convertible notes to increase its Ethereum (ETH) holdings. According to the company, these funds will primarily be used to purchase more Ethereum. The remaining capital could be invested in other strategic investments or purchases within the digital asset sector.

This marks a significant shift for Bit Digital, which changed its focus in mid-2023 to Ethereum staking and treasury operations, rather than Bitcoin mining. The company described this strategy in an initial prospectus submitted to the U.S. Securities and Exchange Commission. Barclays, Cantor, and B. Riley Securities are currently leading the offering as primary book-running managers.

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Bit Digital has been steadily building up and investing in ETH since 2022. Nevertheless, it has not done any major acquisitions since July, so this offering is especially essential. The company is determined to expand its Ethereum position, despite experiencing a decline in revenue in its most recent quarter.

Ethereum’s Growing Importance in Bit Digital’s Strategy

Ether is a crucial asset for Bit Digital. It is very appealing due to its dominance in decentralized finance (DeFi) and smart contracts. The strategy adopted by the company is a vice, as more companies adopt digital asset treasury (DAT) strategies.

Through these strategies, companies will have leveraged exposure to the best assets such as Ethereum, Bitcoin, and Solana.

Other companies, such as BitMine Immersion and SharpLink Gaming, have also adopted DAT strategies and become significant holders of Ethereum. Bit Digital will solidify its standing in the changing digital asset market by buying more Ethereum.

This represents a significant investment in Ethereum through this $100 million offering. Bit Digital has the potential to be a successful long-term business, as Ethereum remains at the forefront of the digital finance ecosystem. The equity will enable the company to consolidate its Ethereum portfolio and explore additional investment opportunities.

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