Home  »  Trendy Stocks   »  Bit Digital Inc. (BTBT) Stock on the Rise Followin...

Bit Digital Inc. (BTBT) Stock on the Rise Following Closure of Private Placement

Bit Digital Inc. (BTBT) stock prices were up by 2.90% as of the market closing on October 8th 2021. This brought the price per share up to USD$11.35 at the end of the trading day. Subsequent premarket fluctuations have seen the stock surge by 5.20%, bringing it up to USD$11.94.

Do You Own These 7 Inflation-Survival Stocks?

Inflation is still near 40-year highs and rising prices are putting a big dent in our wallets. Unless you find out how to protect your portfolio and outpace inflation, you'll keep being at the mercy of economic factors out of your control. Especially since the price of electricity, food, and shelter are creeping up higher than ever. In this special report, I detail 7 stocks to help you survive and thrive in today's market. They're backed by solid companies, positioned to profit during tough economic times, and offer out-sized dividends to help you outpace inflation.

Click here to get your free copy of the report


BTBT Stock’s Private Placement

October 5th 2021 saw BTBT stock report the closure of its previously announced private placement. The private placement with institutional investors will see the sale of 13,490,728 shares of the company’s common stock. The company also issued unregistered warrants to purchase up to an aggregate of 10,118,046 shares of common stock. The purchase price for one ordinary share and one warrant to purchase three-fourths of an ordinate share has been set at USD$5.93. The warrants have been set with an exercise price of USD$7.91 per whole ordinary share. The warrants will be exercisable immediately and will have a term of three and a half years as of the effective date of the resale registration statement registering the ordinary shares and warrant shares. Gross proceeds from the placement are expected to amount to roughly USD$80 million.

Collaboration with Blockfusion

September 7th 2021 saw BTBT stock announce having entered into a strategic co-mining agreement with Blockfusion. As per the agreement, the partnering company will provide certain premises and services to BTBT. These premises and services will facilitate the operation of a 35 MW bitcoin mining system for a term of two years, with the automatic renewal of one year. The collaboration is forecasted to facilitate in increase in BTBT’s hashrate of up to roughly 1.2 Exahash. The first of four phases of miner equipment deliveries for installation are expected around September 15th 2021.

Details of the Arrangement

The energy used by the mining system is expected to be generated primarily from zero carbon emission sources. This reflects BTBT stock’s continued commitment to sustainability. As per the agreement, the company has advanced its partnering company USD$3,750,000. This represents an average of roughly USD$107,000 per megawatt across the entire 35MW Agreement.

Future Outlook for BTBT

The company reported a strong quarter, consolidated by its recent private placement and partnership with Blockfusion. BTBT stock is poised to capitalize on the expanded scope of opportunities afforded to it as a result of these developments. Current and potential investors are hopeful that management will be able to effectively leverage the resources at its disposal. This is hoped to facilitate significant and sustained increases in shareholder value.

Leave a Comment

Your email address will not be published. Required fields are marked *

Related Posts




The 5 Best Inflation Stocks for 2022

100% free. stop anytime no spam

Get our free report on the stocks that we recommend for investors who want to protect their portfolios from inflation.

Receive Best Stock To Trade Before The Opening Bell



100% Free. Stop Anytime. No Spam