Bit Digital plans to raise up to $500 million through ATM

Bitcoin mining company Bit Digital has applied to raise up to $500 million through an "At-The-Market" (ATM) offering, exceeding its current market value of $429 million, with plans to expand its high-performance computing and cloud services business. According to documents submitted on Wednesday, as of April 28, Bit Digital had 203.8 million shares outstanding. The funds are reportedly intended for expenditures on mining machines and cloud service equipment, working capital, and potential acquisitions. (Theminermag)