Bit Digital, an Ethereum treasury company, plans to raise $100 million by issuing convertible bonds

ChainCatcher news, according to The Block, Ethereum treasury company Bit Digital announced on Monday that it has proposed to issue $100 million in convertible bonds to purchase more Ethereum.

The net proceeds from this bond issuance will primarily be used to purchase Ethereum, and the company may also use it for general corporate purposes, including potential investments, acquisitions, and other business opportunities related to digital assets. Bit Digital has submitted a preliminary prospectus to the U.S. Securities and Exchange Commission. Barclays, Cantor, and B. Riley Securities are the lead underwriters for this bond issuance. Since July, Bit Digital has not purchased a significant amount of Ethereum. The company has been accumulating and staking ETH since 2022.