Bit Digital plans to raise $67.3 million through targeted issuance to purchase Ethereum

According to The Block, Nasdaq listed company Bit Digital announced plans to raise approximately $67.3 million through a targeted issuance of 22 million common shares to institutional investors, with plans to use the proceeds to purchase Ethereum. The company has previously converted all its Bitcoin reserves into Ethereum, holding approximately 100603 ETH worth around $301 million as of July 7th. In addition, Bit Digital disclosed that its preliminary estimated revenue for the second quarter is between $24.3 million and $26.9 million.