Bit Digital's $67.32M Share Offering to Bolster Ethereum Operations
Deal News | Jul 21, 2025 | White & Case LLP
Global law firm White & Case LLP has acted as advisor to Bit Digital, Inc., a prominent digital asset platform, on its registered direct offering involving 22 million ordinary shares priced at US$3.06 each, amounting to a total of approximately US$67.32 million. Bit Digital, focusing on Ethereum-native strategies, intends to utilize the net proceeds to purchase Ethereum, thereby bolstering its staking operations, which are among the largest worldwide. This recent transaction comes shortly after Bit Digital's prior US$172 million underwritten public offering, also advised by White & Case, aimed at purchasing Ethereum. The legal team from White & Case was composed of experienced professionals including Laura Katherine Mann, Prat Vallabhaneni, Neil Clausen, and a cohort of associates, highlighting a collaborative effort across New York and Houston offices.
Sectors
- Digital Assets & Cryptocurrency
- Legal Services
- Capital Markets
Geography
- United States – The activity involves Bit Digital, a U.S.-listed company, and White & Case LLP, which has teams based in New York and Houston, underscoring the relevance of the United States in this transaction.
Industry
- Digital Assets & Cryptocurrency – Bit Digital operates as a digital asset platform with a focus on Ethereum-native treasury and staking strategies, making it a part of the cryptocurrency and digital assets industry.
- Legal Services – White & Case LLP, as a legal advisor involved in the structuring and execution of the share offering, belongs to the legal services industry.
- Capital Markets – The advising on a registered direct offering of shares places the activities within the capital markets sector, highlighting fundraising through public markets.
Financials
- US$3.06 per share – The price at which the 22 million ordinary shares were offered in the registered direct offering.
- US$67.32 million – The total amount raised in Bit Digital's registered direct offering of ordinary shares.
- US$172 million – The proceeds from Bit Digital's recent underwritten public offering used to purchase Ethereum.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bit Digital, Inc. | Target company | Company | A publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. |
| White & Case LLP | Legal advisor | Company | A global law firm advising Bit Digital on its registered direct offering of ordinary shares. |
| Laura Katherine Mann | Capital Markets partner | Person | Lead partner from White & Case LLP's Houston office involved in the share offering. |
| Prat Vallabhaneni | M&A partner | Person | M&A partner from White & Case LLP's New York office involved in the share offering. |
| Neil Clausen | Tax partner | Person | Tax partner from White & Case LLP's Houston office advising on the transaction. |
| Melissa Curvino | Capital Markets associate | Person | Associate at White & Case LLP's New York office involved in the transaction. |
| Bryson Manning | Capital Markets associate | Person | Associate at White & Case LLP's Houston office involved in the transaction. |
| Brandon Wong | Capital Markets associate | Person | Associate at White & Case LLP's Houston office involved in the transaction. |
| Chanel Holmes | Capital Markets associate | Person | Associate at White & Case LLP's Houston office involved in the transaction. |
| Daniel Quesenberry | Capital Markets associate | Person | Associate at White & Case LLP's Houston office involved in the transaction. |