US-listed Bit Digital to swap $13.9 million in stock for Bitcoin miners with total hash rate of 1 EH/s

Nasdaq-listed Bit Digital said it would issue shares worth $13.9 million to swap for Bitcoin-mining equipment.

According to the пресс-релизу, the New York-based firm signed asset-purchase agreements with non-U.S. investors. Under the arrangements, Bit Digital will issue a total of 4,344,711 common shares at $3.20 each in exchange for ASIC miners with a combined hash-rate of 1 EH/s.

Upon closing the transaction, the company’s Bitcoin mining capacity will nearly double, from about 1.25 EH/s to roughly 2.5 EH/s.

Bit Digital also said it plans to install in its US data center the first batch of the previously acquired 2,000 Whatsminer M21 devices from MicroBT by year-end.

“It is expected that the increase in the number of miners at North American sites will help the company rebalance its cost structure and geographic distribution of capacity,” the statement said.

The firm launched its mining business in February 2020. By the end of the first half of the year it had a hash-rate of 310 PH/s.

Earlier this year, the company said that in the first six months of the year mined bitcoins worth more than $10 million.

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