BTC Digital Ltd, a blockchain technology company and a global leader in Bitcoin (BTC) mining, announced the successful closing of a $20 million underwritten public offering.
The Company remains committed to scaling its mining operations with sustainable green energy solutions, enhancing its computing power deployment capabilities, and solidifying its leadership position in the industry. BTCT also plans to strengthen its in-house research and development capabilities to drive technological innovation.
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Strategic Use of Funds: Accelerating Key Objectives
BTCT outlines the strategic deployment of the proceeds raised in the public offering to support its core goals in the following areas:
1. Infrastructure and Energy Expansion
- Mining Farm Expansion: The Company plans to construct and expand multiple mining farms in North America, focusing on enhancing the efficiency of its existing facilities. By leveraging green energy sources, BTCT aims to reduce carbon emissions and align with global sustainability goals. The Company projects its proprietary mining operations will reach a scale of 20 MW by mid-2025, providing stable support for both self-mining and hosting services while paving the way for future growth.
2. Computing Power Expansion
- New Mining Machine Deployment: The proceeds will also be used to deploy additional proprietary and hosted mining machines. This initiative is expected to significantly enhance computing power, further cementing BTCT’s position as an industry leader in technology and service delivery.
3. R&D Investments
- Innovative Mining Machine Development: The Company plans to invest in the R&D of mining machines for alternative PoW cryptocurrencies, with a focus on improving mining efficiency and energy performance. This initiative aims to address the growing market demand for high-performance mining equipment and establish stronger technical barriers.
Message from Leadership
Mr. Peng Siguang, Founder and CEO of BTCT, commented:
“This offering marks a significant milestone as we aim for higher achievements. It will enable us to make breakthroughs in green energy applications, technological innovation, and customer service. Our mission is to promote sustainable development in the blockchain industry while creating greater value for our customers.”
BTCT continues to lead by example in leveraging green energy and pioneering innovation to drive industry advancement.
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Source – prnewswire
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