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Nasdaq-listed company Bit Digital (BTBT) announced it will raise approximately $162.9 million in net proceeds through a stock issuance to establish an Ethereum treasury and fully transform. Bit Digital stated that it will gradually convert its current holdings of approximately 417.6 Bitcoins (worth about $44.9 million) into ETH. The company began accumulating and staking Ethereum in 2022, and by the end of the first quarter of 2025, it will hold 24,434.2 ETH, with a total value exceeding $59.8 million. (The Block)

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