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Bit Digital Inc. Purchases 31,057 ETH With Convertible Notes Proceeds, Raising Capital at a Premium to mNAV

1. Bit Digital purchased 31,057 ETH using $150 million convertible notes proceeds. 2. Company now holds approximately 150,244 ETH, boosting its institutional treasury position. 3. CEO emphasizes commitment to increasing shareholder value via ETH accumulation. 4. Initial convertible notes priced at $4.16 per share, 8.2% above estimated mNAV. 5. Strategic stake in WhiteFiber supports long-term value for shareholders.

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Why Bullish?

The purchase of ETH and premium pricing of convertible notes indicates strong confidence. Historical trends show that accumulation of digital assets often leads to price increases in related stocks.

How important is it?

The article details significant financial maneuvers aimed at growth, which directly impacts BTBT's future value. The substantial acquisition of Ethereum and strong backing by institutional investors suggests that BTBT is well-positioned amid market uncertainties.

Why Long Term?

The strategic focus on building ETH reserves and the partnership with WhiteFiber suggests a solid growth trajectory. Companies that successfully accumulate digital assets typically see sustained long-term benefits.

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WYFIETH
With one of the largest public Ethereum treasuries and a majority stake in WhiteFiber, Bit Digital is building a forward-looking balance sheet anchored by ETH and AI infrastructure , /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a leading Ethereumdigital asset treasury company ("DAT"), today announced that it has purchased approximately 31,057 Ethereum ("ETH") using the net proceeds from its recently completed $150 million convertible notes offering, which included the underwriters' full exercise of their over-allotment option. The initial conversion price for the convertible notes of $4.16 per share represents an 8.2% premium to the Company's estimated mNAV at the time of deal pricing. Following this transaction, Bit Digital now holds approximately 150,244 ETH, reinforcing its position among the largest institutional Ethereum treasuries in the public markets. Several notable crypto focused investors participated in the convertible notes offering, including Kraken Financial, Jump Trading Credit, and Jane Street Capital. Sam Tabar, CEO of Bit Digital, commented: "This purchase demonstrates our commitment to building shareholder value by financing ETH accumulation on terms that are accretive to NAV per share. The structure of our convertible notes allowed us to raise capital at a premium to mNAV, and we have deployed those proceeds directly into ETH. We view ETH as foundational to digital financial infrastructure and believe current levels provide a compelling long-term entry point. We are focused on expanding our Ethereum treasury in a cost-effective manner, while benefiting from the growth of our majority stake in WhiteFiber. Our guiding principle is to grow NAV per share, with the goal of creating long-term value for shareholders." Supplemental Information on mNAV Bit Digital estimates its mark-to-market net asset value ("mNAV") by aggregating the value of its Ethereum ("ETH") holdings and its ownership stake in WhiteFiber, Inc. ("WYFI") divided by the number of its outstanding ordinary shares. As of September 29, 2025, which reflected the market values at the time the convertible notes were priced: ETH holdings: 121,252 ETH valued at approximately $4,229 per ETH, or $512.7 million WYFI holdings: 27,043,749 shares of WYFI valued at $26.74 per share, or $723.1 million Combined value: $1.236 billion BTBT shares outstanding: 321.4 million Based on these figures, Bit Digital's estimated mNAV was approximately $3.84 per share. The initial conversion price of the convertible notes is $4.16 per share, representing a premium of approximately 8.2% to mNAV at the time of pricing. Note: mNAV estimates are based on market values reported by Bloomberg as of September 29, 2025, and are subject to market volatility and change without notice. About Bit Digital Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. The Company began accumulating and staking ETH in 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital's platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the Ethereum ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield. Bit Digital also holds a majority equity stake in WhiteFiber (Nasdaq:WYFI), a leading AI infrastructure provider and HPC solutions. For additional information, please contact [email protected], visit our website at www.bit-digital.com, or follow us on LinkedIn or X. Investor Notice Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report) and any subsequently filed quarterly reports on Form 10-Q and any Current Reports on Form 8-K.  If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Safe Harbor Statement" below. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. SOURCE Bit Digital, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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