Nasdaq-listed company Bit Digital plans to raise $67.3 million through a private placement to purchase Ether.

According to Mars Finance, Nasdaq-listed company Bit Digital announced its plan to raise approximately $67.3 million by issuing 22 million shares of common stock to institutional investors, intending to use the funds to purchase Ether. The company had previously converted all of its Bitcoin reserves into Ethereum, holding approximately 100,603 ETH as of July 7, valued at about $301 million. Additionally, Bit Digital disclosed that its preliminary expected revenue for the second quarter is between $24.3 million and $26.9 million. (TheBlock)