Bit Digital's underwriters fully exercised their overallotment option, raising $162.9 million, which may be used to purchase ETH.

BlockBeats news, on July 2, Bit Digital (Nasdaq: BTBT) announced today that the underwriters of its recent public offering have fully exercised their over-allotment option, purchasing an additional 11.25 million shares of common stock, bringing the company approximately $21.4 million in additional net proceeds. The public offering totaled 86.25 million shares of common stock, with total net proceeds reaching $162.9 million. The company stated that it will use the funds raised to purchase Ether. As a digital asset platform focused on Ethereum native treasury and staking strategies, Bit Digital currently operates one of the largest institutional Ethereum staking infrastructures in the world.