The Company expects the transactions contemplated by the Subscription Agreements to close on or about January 3, 2024.
BTC Digital Ltd, a cryptocurrency mining company, announced that it has entered into subscription agreements (the “Subscription Agreements”) with three individual investors (the “Investors”), for the issue and sale of 303,497 ordinary shares of the Company, par value US$0.06 per share (the “Ordinary Shares”), for total gross proceeds of $1,014,286, or US$3.342 per share.
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Each of the Investors represented that he or she was not a resident of the United States and was not “U.S. persons” as defined in Rule 902(k) of Regulation S and was not acquiring the ordinary shares of the Company for the account or benefit of any U.S. person. The Subscription Agreements and the transactions contemplated thereby have been approved by the Company’s board of directors. The Company expects the transactions contemplated by the Subscription Agreements to close on or about January 3, 2024. The Company plans to use the proceeds to purchase additional mining machines, which is expected to further increase the aggregate computing power of the Company’s cryptocurrency mining fleet.
“We are excited to announce the entry into the Subscription Agreements. With the capital injection, we are aim to further grow our cryptocurrency mining business,” said Mr. Alan Peng, Chief Executive Officer of BTC Digital.
BTC Digital Ltd.is a blockchain technology company, with a long-term strategy to create value across the metaverse, blockchain and cryptocurrency mining industry. The Company is committed to developing blockchain related businesses in North America, including cryptocurrency mining, mining farm construction, mining pool and data center operation, and miner accessories business.
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