Bit Digital Inc. Announces Strategic Shift and Public Offering

Strategic Transition to Ethereum Operations

NEW YORK, June 25, 2025 /PRNewswire/ – Bit Digital, Inc. (Nasdaq: BTBT), a publicly traded digital asset platform, has announced a significant strategic shift. The company is transitioning to become a pure play Ethereum (“ETH”) staking and treasury company. This move involves accumulating ETH and operating staking infrastructure, a process that began in 2022. As of March 31, 2025, Bit Digital held 24,434.2 ETH and 417.6 BTC, valued at approximately $44.6 million and $34.5 million, respectively. The company plans to convert its BTC holdings into ETH over time.

In connection with this transition, Bit Digital has initiated a strategic alternatives process for its bitcoin mining operations. This process is expected to result in the sale or wind-down of these operations, with any net proceeds being re-deployed into ETH. This strategic shift underscores Bit Digital’s focus on Ethereum-native treasury and staking strategies.

Commencement of Public Offering

On the same day, Bit Digital announced the commencement of an underwritten public offering of its ordinary shares. The offering is being managed by B. Riley Securities, with Clear Street, Craig–Hallum, and Northland Capital Markets acting as co-managers. The company intends to use the net proceeds from this offering to purchase Ethereum. The offering is being conducted under a shelf registration statement on Form S-3, which was declared effective by the SEC on June 20, 2025.

WhiteFiber’s Credit Facility for Data Centers

In related news, WhiteFiber, Inc., the wholly-owned HPC subsidiary of Bit Digital, announced a C$60 million credit facility with the Royal Bank of Canada (RBC). This facility is intended to finance the buildout of WhiteFiber’s Tier-3 AI data center portfolio. The credit agreement includes a real estate term loan, equipment financing, and a revolving facility, with interest rates of CORRA plus 250 bps over a 3-year term. This financing is seen as a significant endorsement of WhiteFiber’s business model and its ability to meet the growing demand for AI computing infrastructure.

Company Overview

Bit Digital, Inc. is a Bitcoin mining company that operates globally in Asia, Canada, and the United States. The company is now focusing on Ethereum staking and treasury operations. As of June 23, 2025, Bit Digital’s close price was $2.44, with a market capitalization of approximately $500.75 million. The company’s 52-week high was $5.74, and its 52-week low was $1.69.

For more information, please contact ir@bit-digital.com or follow Bit Digital on LinkedIn or X.