$BTCT

BTC Digital Closes Private Placement, Receives $7 Million in Initial Proceeds; Shares Surge Pre-Bell

BTC Digital (BTCT) closed a private placement, raising about $7 million in upfront gross proceeds, with potential total proceeds of up to $28 million, including warrant exercises, the company said Monday.The company said it will use the initial proceeds to fund the first phase of its 8-megawatt AI computing center in Georgia, with initial capacity expected to come online in about six months.The offering consisted of 6.14 million common units, or pre-funded units, priced at $1.14 each, with attached warrants that could generate an additional approximately $21 million in gross proceeds if fully exercised, it added.BTC Digital shares were up 87% in Tuesday premarket activity.Price: $1.28, Change: $+0.60, Percent Change: +87.36%