BTC Digital Ltd. Announces Entry Into $1.014M Share Subscription Agreements In Connection With Private Placement Of Ordinary Shares For The Issue And Sale Of 303,497 Ordinary Shares Of The Company, Par Value $0.06 Per Share
Portfolio Pulse from Happy Mohamed
BTC Digital Ltd. (NASDAQ:BTCT), a cryptocurrency mining company, has entered into subscription agreements for a private placement of 303,497 ordinary shares at $3.342 per share, raising $1.014M. The investors are not U.S. residents or persons. The proceeds will be used to purchase additional mining machines to increase the company's mining capacity. The transaction is expected to close on January 3, 2024.
December 26, 2023 | 1:35 pm
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BTC Digital Ltd. has successfully raised $1.014M through a private placement of shares to expand its cryptocurrency mining operations.
The successful capital raise through a private placement is likely to be viewed positively by investors as it provides the company with additional resources to expand its mining operations. This expansion could potentially increase future revenues and profitability, which may lead to a short-term positive impact on the stock price.
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