White & Case advises Bit Digital on upsized US$135 million convertible notes offering

Global law firm White & Case LLP has advised Bit Digital, a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies, on its upsized underwritten public offering of US$135 million aggregate principal amount of 4.00% convertible senior notes due 2030. The company also granted the underwriters in the offering a 30-day option to purchase up to an additional US$15 million aggregate principal amount of notes on the same terms and conditions, solely to cover over-allotments. The offering is expected to close on October 2, 2025, subject to customary closing conditions.

The net proceeds from the offering will primarily be used to purchase Ethereum and may be used by Bit Digital for general corporate purposes, including potential investments, acquisitions and other business opportunities relating to digital assets.

The White & Case team was led by Capital Markets partner Laura Katherine Mann (Houston) and M&A partner Prat Vallabhaneni (New York), and included M&A partner Erica Hogan (New York); Tax partner Neil Clausen and associate Kealan Hannes (both in Houston); and Capital Markets associates Bryson Manning, Brandon Wong and Daniel Quesenberry (all in Houston). Law clerk Jacob Bourgault (Houston) also assisted on the matter.

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