Bitcoin Miner Bit Digital Files to Raise Up to $500M in Equity
Categories: Crypto News US
- The value contributions might incorporate standard offers, favoured shares (counting convertible favoured shares), warrants and units contained any blend thereof, as indicated by the documenting.
- The company said the proceeds would be used for general corporate purposes, including capital expenditures, buying new mining equipment, other potential acquisitions and general working capital.
- H.C. Wainwright will act as the underwriter if Bit Digital sells ordinary shares and will offer to sell about 181.8 million shares, implying a roughly 241% increase in outstanding shares, if all of the $500 million worth of shares are sold.
- That being said, the prospectus is a “shelf” registration, meaning there is no present intention to immediately sell all the securities being registered.
- That being said, the prospectus is a “shelf” registration, meaning there is no present intention to immediately sell all the securities being registered.
- Bit Digital migrated all of its bitcoin mining rigs in North America from China last year amid China’s sweeping ban of the industry. Almost 40% of its machines have came online in North America as of March 16.