#BTC Bit Digital Aims for $500M Raise to Fuel HPC, Cloud Expansion

Bit Digital plans to raise up to $500 million through an at-the-market (ATM) equity offering. The offering will be facilitated by investment bank H.C. Wainwright & Co., which will earn a commission of up to 3% on shares sold.

New Funding to Support Excursion Into High-Performance Computing

Bitcoin mining firm Bit Digital has announced its intention to raise up to $500 million through an at-the-market (ATM) equity offering. According to an April 30 filing, the proposed offering could exceed Bit Digital’s current market capitalization of approximately $429 million, potentially leading to substantial share dilution if fully executed.

According to a report from the theminermag.com, the ATM program will allow Bit Digital to issue and sell shares of its common stock periodically through investment bank H.C. Wainwright & Co., which will act as the sales agent and receive a commission of up to 3% on any shares sold. As of April 28, the company reported 203.8 million outstanding shares.

The funds raised through the offering are earmarked for general corporate purposes, including significant capital expenditures to acquire new equipment. The capital injection is also expected to support Bit Digital’s planned expansion into cloud servicing and high-performance computing (HPC).

Bit Digital plans to raise up to $500 million through an at-the-market (ATM) equity offering. The offering will be facilitated by investment bank H.C. Wainwright & Co., which will earn a commission of up to 3% on shares sold.

New Funding to Support Excursion Into High-Performance Computing

Bitcoin mining firm Bit Digital has announced its intention to raise up to $500 million through an at-the-market (ATM) equity offering. According to an April 30 filing, the proposed offering could exceed Bit Digital’s current market capitalization of approximately $429 million, potentially leading to substantial share dilution if fully executed.

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