Bit Digital has officially signaled its shift away from Bitcoin mining, announcing plans to raise $150 million through a public stock offering to expand its focus on Ethereum staking.
In a recent press release, the crypto mining firm revealed it will issue 75 million shares at $2 each, with an option for underwriters to purchase an additional 11.25 million shares within 30 days. If fully exercised, the offering will bring in $150 million in capital. The deal is expected to close on June 27, pending customary closing conditions.
Proceeds from the offering will be used to acquire Ethereum, helping Bit Digital accelerate the development of its ETH treasury. The company now positions itself as a “digital asset platform focused on Ethereum-native treasury and staking strategies.”
This move marks one of the largest public commitments to an Ethereum treasury to date, and signifies a major strategic pivot for Bit Digital as it moves away from Bitcoin mining and toward Ethereum staking.
