Bit Digital Shares Rise After Transitioning Entire Treasury to Ether

MT Newswires Live

Jul 08

Bit Digital (BTBT) shares jumped another 11% after surging 19% on Monday trading after the company said it transitioned to an all-ether (ETH-USD) treasury following a $172 million public offering.

The digital asset platform said it used the gross proceeds from the offering to purchase ether and also sold its bitcoin (BTC-USD) holdings of 280 coins to acquire additional ether.

The company said it now holds about 100,603 ether coins, and described itself as one of the largest ether holders among public companies.

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