Shares of Bit Digital Fall 8% as Company Expands $135M Convertible Offering

Shares of Bit Digital (BTBT) dropped 8% at the open, hitting $2.92, after the miner upsized its 4% convertible senior notes offering from $100 million to $135 million. Underwriters have a 30-day option for $15 million more. The notes, maturing in 2030, feature a $4.16 conversion price, a 30% premium over the last close. Bit Digital plans to deploy the proceeds primarily to purchase ether, supplementing its current 121,252 ETH.

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