Bit Digital, Inc. (NASDAQ: BTBT) announced today, September 29, 2025, a proposed registered underwritten public offering of $100,000,000 aggregate principal amount of its convertible senior notes due 2030. The offering will be made under an effective shelf registration statement on Form S-3, and the preliminary prospectus supplement and accompanying prospectus have been filed with the SEC.
The notes will mature on October 1, 2030, unless earlier converted, redeemed, or repurchased. Holders may convert their notes at their option prior to the close of business on the second scheduled trading day immediately preceding the maturity date, with conversion terms to be determined at pricing. Bit Digital also intends to grant the underwriters a 30‑day option to purchase up to an additional $15,000,000 of notes on the same terms to cover over‑allotments.
Net proceeds from the offering will be used primarily to purchase Ethereum and may also be employed for general corporate purposes, including potential investments, acquisitions, and other business opportunities related to digital assets. The company’s senior leadership highlighted that the capital raise aligns with its strategy to build a large institutional Ethereum treasury and staking platform. Barclays, Cantor, and B. Riley Securities are acting as joint lead book‑running managers for the offering.
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