TechFlow, May 4 — Bitcoin mining company Bit Digital filed an application on May 4 to raise up to $500 million through an at-the-market (ATM) stock offering. The fundraising will be executed by investment bank H.C. Wainwright & Co., with proceeds used to support the company's diversification into high-performance computing and cloud services, including purchasing new equipment, supplementing working capital, and potential acquisitions. Notably, the fundraising amount exceeds the company's current market capitalization of $429 million, and if fully completed, could lead to significant dilution.
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