RTTNews | Oct 6, 2021 10:00AM EDT

10:00 Wednesday, October 6, 2021 (RTTNews.com) - Shares of cryptocurrency miner Bit Digital Inc. (BTBT) are currently up 12% on Wednesday morning after surging about 35% the previous day.

BTBT is currently trading at $11.25, up $0.90 or 8.70%, on the Nasdaq. The stock has traded between $3.40 and $33.00 in the 52 week period. Bit Digital has gained over 42% in the past 5 days.

The company on Tuesday announced that it closed a previously announced private placement of 13.5 million ordinary shares. The company also issued to the investors unregistered warrants to purchase up to an aggregate of 10.1 million ordinary shares. The purchase price for one ordinary share and one warrant to purchase three-fourths of an ordinary share is $5.93.

The proceeds from the private placement were approximately $80 million before deducting placement agent fees and other estimated offering expenses.

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