Bit Digital Eyes $500M Raise as It Pivots to Cloud & HPC Services

⚡️ BTC Mining Margins Shrink, Cloud Becomes the Future ☁️

Bit Digital (BTBT), a top player in Bitcoin mining and digital infrastructure, is set to raise up to $500M via an ATM equity offering — more than its current $429M market cap!

Why? Because Bitcoin mining profits are thinning (thanks, halving & rising costs), and Bit Digital is making a power move into cloud services & HPC (High-Performance Computing).

What’s the plan?

Shares will be sold gradually via H.C. Wainwright & Co. (3% commission)

Funds will fuel:

Capital for mining + cloud gear

Working capital

Acquisitions

The bigger picture:

BTC miners are feeling the squeeze, so they're diversifying — AI, cloud, HPC — you name it. In Q4 2024 alone:

Miners raised $1.6B via equity

And $4.6B via debt financing

Bit Digital’s Moves So Far:

Acquired Enovum Data Centers (Tier 3 HPC facility) for $46M

Teamed with Boosteroid (cloud gaming giant) to deploy 300 GPUs

Projected $4.6M in revenue over 5 years

2024 Highlights:

Total revenue: $108.1M (+141% YoY)

BTC mining: $58.6M (+32%)

Cloud services: $45.7M

Colocation: $1.4M

ETH staking: $1.8M (+169%)

Revenue shift:

2023: 98% from mining

2024: Just 54% from mining

42% now from HPC & cloud — mostly in Q4

Bit Digital is evolving. Will it thrive in the new cloud economy?

Let’s watch this space!

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