US BitDigital Pursues $10 Million Funding… Aims to Accumulate Ethereum

JOON HYOUNG LEE

Summary

US Nasdaq-listed company BitDigital has announced plans to raise $10 million in new funding to purchase Ethereum.
BitDigital is greatly increasing its common stock issuance cap to secure funds, and a shareholder vote is scheduled for September 10.
BitDigital has accelerated its Ethereum accumulation by selling Bitcoin since the beginning of the year, and it is currently estimated to hold about 120,306 Ethereum.

US Nasdaq-listed company BitDigital (BitDigital) is raising $10 million (approximately ₩14 billion) in new funding to purchase Ethereum (ETH).

According to BeInCrypto on the 26th (local time), BitDigital reported to the US Securities and Exchange Commission (SEC) on the previous day (25th) that it would increase its common stock issuance cap from the previous 340 million shares to 1 billion shares. BitDigital stated in a filing submitted to the SEC that "the newly raised funds will be used to purchase Ethereum."

BitDigital plans to newly raise $10 million by increasing its common stock issuance cap. The related shareholder vote is scheduled for September 10.

BitDigital has been accelerating its efforts to secure Ethereum since the start of this year. Earlier this month, BitDigital additionally purchased Ethereum after selling $172 million (about ₩240 billion) worth of Bitcoin (BTC).

Meanwhile, it is estimated that BitDigital currently holds a total of 120,306 Ethereum.

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