Bit Digital proposes $100 million convertible notes offering

Bit Digital Inc. (NASDAQ: BTBT) announced a proposed public offering of $100 million in convertible senior notes due 2030, according to a company statement.

The company intends to grant underwriters a 30-day option to purchase an additional $15 million in notes to cover over-allotments. The notes will be senior, unsecured obligations maturing October 1, 2030, unless converted, redeemed or repurchased earlier.

Holders may convert notes prior to the second scheduled trading day before maturity. Upon conversion, Bit Digital will pay cash, ordinary shares at $0.01 par value, or a combination of both at the company's discretion. Interest rate, initial conversion rate and other terms will be determined at pricing.

Net proceeds will primarily fund Ethereum purchases and may support general corporate purposes, including potential investments, acquisitions and digital asset business opportunities, the company stated.

Barclays, Cantor and B. Riley Securities serve as joint lead book-running managers for the offering.

The offering operates under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission, which was declared effective June 20, 2025. The preliminary prospectus supplement and accompanying prospectus have been filed with the SEC.

Bit Digital operates as a digital asset platform focused on Ethereum treasury and staking strategies. The company began accumulating and staking ETH in 2022 and operates institutional Ethereum staking infrastructure.

You May Also Be Interested In

• Enliven Therapeutics launches $250 million public stock offering
• RH (RH) Tops Q1 EPS by 12c
• Parabilis Medicines closes $770.5 million IPO and concurrent private placement