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BTC Digital Secures $6 Million for Ethereum Investment

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by Giorgi Kostiuk

5 hours ago

BTC Digital Ltd. has confirmed raising $6 million through a direct offering, which will enable the firm to strengthen its presence in the Ethereum market.

About the Investment

BTC Digital Ltd. has confirmed raising $6 million through a direct offering with institutional investors. The transaction is expected to close around July 16, allowing the company to use the proceeds to acquire additional Ethereum (ETH).

BTC Digital's Investment Strategy

The firm plans to utilize the raised funds along with existing reserves to increase its Ethereum holdings. This move underscores BTC Digital's strategic commitment to expanding in the decentralized finance (DeFi) and Web3 sectors.

Related Initiatives by Bit Digital

Bit Digital has also announced plans to raise $67.3 million through a direct offering. The proceeds will be directed towards enhancing Ethereum-related operations, indicating a growing institutional interest in the asset. This deal is being facilitated by B. Riley Securities.

Thus, both BTC Digital and Bit Digital reflect a strong interest in the Ethereum ecosystem, confirming rising institutional confidence in this cryptocurrency.

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