Bitcoin mining company Bit Digital raises $150 million to purchase ETH and exit the mining industry

According to The Miner Mag, Bit Digital has raised $150 million through a public offering to accelerate its shift from Bitcoin mining to Ethereum staking and financial operations. The company priced 75 million shares at $2 per share and provided an additional 11.25 million shares to underwriters through a 30 day option. The proceeds from this issuance will be used to purchase Ethereum, making it one of the largest public ETH financial commitments to date.