Bit Digital acquires 31,057 ETH

Bit Digital (BTBT) announced that it has purchased approximately 31,057 Ethereum, or ETH, using the net proceeds from its recently completed $150M convertible notes offering, which included the underwriters’ full exercise of their over-allotment option. The initial conversion price for the convertible notes of $4.16 per share represents an 8.2% premium to the Company’s estimated mNAV at the time of deal pricing. Following this transaction, Bit Digital now holds approximately 150,244 ETH, reinforcing its position among the largest institutional Ethereum treasuries in the public markets. Several notable crypto focused investors participated in the convertible notes offering, including Kraken Financial, Jump Trading Credit, and Jane Street Capital. As of September 29, 2025, which reflected the market values at the time the convertible notes were priced: 121,252 ETH valued at approximately $4,229 per ETH, or $512.7M; 27,043,749 shares of WYFI valued at $26.74 per share, or $723.1M; Combined value: $1.236B; BTBT shares outstanding: 321.4M. Based on these figures, Bit Digital’s estimated mNAV was approximately $3.84 per share. The initial conversion price of the convertible notes is $4.16 per share, representing a premium of approximately 8.2% to mNAV at the time of pricing.