PANews reported on July 15 that according to The Block , Nasdaq-listed Bit Digital announced that it plans to raise about $ 67.3 million through a private placement of 22 million common shares to institutional investors, and plans to use the funds raised to purchase Ethereum. The company has previously converted all its Bitcoin reserves into Ethereum, and as of July 7 , it held about 100,603 ETH , worth about $ 301 million. In addition, Bit Digital disclosed that its preliminary revenue for the second quarter is expected to be between $ 24.3 million and $ 26.9 million.