Altcoins News
By Evie Vavasseur
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$150M Public Offering Sparks Sell-Off. On Thursday, Bit Digital announced it would issue 75 million ordinary shares at $2 each in a…
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From Bitcoin Mining to Ethereum Staking. This public offering follows Bit Digital’s official exit from Bitcoin (BTC) mining, a move it…
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Investors React to Sudden Shift. Despite the company’s long-term ambitions in Ethereum staking, investors were quick to express…
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Ethereum Strategy May Have Long-Term Upside. Despite the negative market reaction, Bit Digital remains firm in its new vision.
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Conclusion: Short-Term Pain, Long-Term Bet on ETH. Bit Digital’s rapid pivot to Ethereum and a $150 million capital raise have shaken investor…
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Bit Digital Inc. (BTBT), a Nasdaq-listed crypto firm, saw its stock tumble this week after announcing two major moves: a $150 million public offering and a strategic shift from…
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Shares of Bit Digital plunged by 15% in a single day and dropped nearly 19% over the week, closing at $1.99 on Friday, down from a recent high of $2.40.
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On Thursday, Bit Digital announced it would issue 75 million ordinary shares at $2 each in a public offering aimed at raising $150 million.
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The announcement triggered immediate market reaction. Shares fell to $1.86 during regular trading before rebounding slightly in after-hours.
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Bit Digital began building its ETH staking infrastructure in 2022 and has since accumulated a significant amount of Ethereum. As of March 31, 2025, the company held:
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24,434 ETH, worth approximately $44.6 million
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The company plans to convert all its BTC holdings into ETH, aiming to bring its Ethereum treasury to around 42,000 ETH, which would be worth over $103 million at current prices.
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Bit Digital was once ranked as the 12th-largest Bitcoin mining company by market capitalization.
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Analysts suggest that investor skepticism stems from:
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The abrupt change in business model, which introduces new risks
The Currency Analytics
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