Bit Digital Invests in Auros, a Market-Maker

Nasdaq-listed mining company Bit Digital объявила strategic investments in market-maker Auros. The parties did not disclose the deal value.

According to the release, the move is aimed at maximizing the risk-adjusted returns on Bit Digital’s digital assets.

“Miners and validators play a crucial role in safeguarding blockchains, processing transactions and developing the entire ecosystem. The Auros Derivatives Solutions offering provides a full suite of treasury and risk-management solutions,” the press release said.

Auros said they could provide Bit Digital with ‘complex support’, as well as the necessary liquidity and market-making capabilities for the industry.

“This is the key to forming a healthy and dynamic ecosystem for digital assets,” said Samir Tabar, Bit Digital’s Chief Strategy Officer.

In late 2022 Auros filed for restructuring of its operations after losing access to $20 million on the collapsed FTX. The amount represented a “significant portion of the market maker’s assets”.

Earlier the company became a participant in an institutional-investor-focused lending protocol Clearpool.

In March 2023, Auros raised $17 million to complete the restructuring and close the balance-sheet gap. Investors included Vivienne Court, Bit Digital, Trovio, Epoch Capital, Primal Capital and the partners of venture giant Optiver.