The Nasdaq-listed Bitcoin (BTC) mining company Bit Digital has announced it will issue $13.9 million in shares in exchange for mining hardware.
According to a Nov. 11 announcement, Bit Digital has inked asset-purchase agreements with non-U.S. investors to issue 4,344,711 shares valued at $3.20 each in exchange for Bitcoin miners boasting a combined hash power of 1,000 petahashes per second (PH/s), or 1 exahash (EH/s).
Bit Digital launched its BTC mining business in February 2020, quickly amassing 1,250 PH/s in power by October. The additional miners will nearly double Bit Digital’s operational hash power once installed.
The company also expects to install 2,000 previously purchased MicroBT Whatsminer M21 ASIC miners by January 2021, adding a further 6.2 PH/s in operational hash rate.
With a projected hashing power of more than 2.3 exahashes per second (EH/s), Bit Digital’s decision…