** Shares of digital asset miner Bit Digital BTBT.O down 10.3% after hours to $2.87 as it seeks capital raise

** New York-based BTBT announces public offering of $100 mln 5-yr convertible bonds

** Co to use net offering proceeds primarily to purchase cryptocurrency Ethereum ETH=, and possibly for potential investments, acquisitions relating to digital assets

** Barclays, Cantor Fitzgerald and B. Riley Secs are joint bookrunners

** BTBT also says in a filing it expects rev of $20.1-$22.2 mln for two months ended and as of Aug 31, and cash and equivalents of about $163.7-$173.9 mln

** Co has ~321.4 mln shares outstanding for roughly $1 bln market cap

** BTBT shares on Mon ended up 8.5% at $3.20, up 9% YTD

** In Jun, BTBT priced $150 mln equity offering at $2 for its pivot to ETH

** All 5 analysts covering BTBT rate the stock "buy" and median PT is $5.50, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))