Bit Digital, Inc. (BTBT) has experienced an incline of 3.35% in the premarket today. However, the last trading session closed at $11.35 with an increase of 2.9%.
BTBT Announces Closing of $80 Million Private Placement
On 5th October 2021, BTBT reported that the referral program with institutional investors for the sale of 13,490,728 ordinary shares has been completed. The investors will get unregistered warrants to acquire up to 10,118,046 ordinary shares. $5.93 buys one ordinary share and one warrant to buy three-quarters of an ordinary share. However, the warrants have an exercise price of $7.91 per whole ordinary share, are immediately exercisable. They also have a period of three and a half years from the start date of the resale listing agreement registering the regular and warrant shares. Before subtracting placement agency fees and other projected offering expenses, the overall proceeds from the private placement were around $80 million.
$80 Million Private Placement
BTBT reported that it has reached a formal deal with institutional investors to buy 13,490,728 ordinary shares on 30th September 2021. In addition, the Company will issue registration warrants to acquire up to 10,118,046 ordinary shares. The warrants have an exercise price of $7.91 per whole ordinary share, are instantly available, and have a period of three and a half years after the effective date of the resale certificate of registration registering the ordinary shares and warrant shares.
BTBT Appoints Brock Pierce to its Board of Directors
BTBT announced on 28th September 2021 that Brock Pierce is the new Chairman of the Bitcoin Foundation. It will be effective from October 31, 2021. Brock’s addition to the board of directors is a significant step in completing our move to North America. Furthermore, the company now has the first director located in the United States. It is part of the ongoing migration of our mining operations and management team. Brock has a track record as a recognised leader and pioneer in the Bitcoin ecosystem. Lastly, BTBT is certain that his strategic vision and relationships will assist them in achieving their growth objectives.
BTBT and Blockfusion Announce 35 Megawatt Strategic Partnership
On 7th September 2021, BTBT announced the signing of a strategic co-mining agreement between the two companies. Blockfusion will supply BTBT with specific premises and services for the operation. Moreover, Bit Digital’s hashrate is projected to grow by up to 1.2 Exahash as a result of this cooperation. On or around September 15, 2021, Bit Digital intends to finish the first stages of mining equipment delivery for installation.
