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Bit Digital ( (BTBT) ) just unveiled an announcement.
On September 29, 2025, Bit Digital, Inc. entered into an underwriting agreement with Barclays Capital Inc., Cantor Fitzgerald & Co., and B. Riley Securities, Inc. for the issuance and sale of $150 million in 4.00% Convertible Senior Notes due 2030. The issuance was completed on October 2, 2025, and the net proceeds of $143.3 million will primarily be used to purchase Ethereum and for general corporate purposes. These notes are senior, unsecured obligations and come with specific terms regarding conversion, redemption, and repurchase, which could impact the company’s financial strategy and stakeholder interests. The notes’ issuance positions Bit Digital to further its digital asset investments and strengthen its market presence in the Ethereum ecosystem.
The most recent analyst rating on (BTBT) stock is a Buy with a $5.50 price target. To see the full list of analyst forecasts on Bit Digital stock, see the BTBT Stock Forecast page.
Spark’s Take on BTBT Stock
According to Spark, TipRanks’ AI Analyst, BTBT is a Neutral.
Bit Digital’s overall score reflects strong strategic initiatives and revenue growth, tempered by profitability challenges and mixed technical signals. The strategic pivot to Ethereum and successful corporate events are positive, but financial stability and valuation concerns remain significant.
To see Spark’s full report on BTBT stock, click here.
More about Bit Digital
Bit Digital is a publicly traded digital asset platform that focuses on Ethereum-native treasury and staking strategies. The company has been accumulating and staking ETH since 2022 and operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital’s platform offers advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization, aiming to provide secure, scalable, and compliant access to on-chain yield through strategic partnerships in the Ethereum ecosystem.
Average Trading Volume: 38,757,702
Technical Sentiment Signal: Buy
Current Market Cap: $1.05B
See more insights into BTBT stock on TipRanks’ Stock Analysis page.