Bit Digital to Triple Stock Capital…"To Expand Ethereum Accumulation"

Suehyeon Lee

Summary

Bit Digital announced that it plans to put a proposal to expand its stock capital threefold to a shareholder vote.
The company stated that it is currently pursuing large-scale acquisitions of Ethereum (ETH) as a short-term growth strategy.
It was noted that, if additional capital is raised, the strategy to expand Ethereum investments will accelerate.

Bit Digital plans to put the proposal to expand its stock capital to a vote at an extraordinary general meeting of shareholders this September.

According to documents submitted to the SEC on the 25th (local time), this meeting will primarily address a proposal to increase the company's authorized stock capital from $3.5 million (340 million shares of common stock + 10 million shares of preferred stock) to $10.1 million (1 billion shares of common stock + 10 million shares of preferred stock).

In this regard, Bit Digital stated, "The company is currently pursuing large-scale acquisitions of Ethereum (ETH) as a short-term growth strategy, and considerable additional capital procurement is required as a result." If this proposal passes, the acceleration of Bit Digital's strategy to expand its Ethereum investments is anticipated.

ETH