SINGAPORE, Dec. 10,
2024 /PRNewswire/ -- BTC Digital Ltd. ("BTCT" or the
"Company")(NASDAQ: BTCT), a blockchain technology company and a
global leader in Bitcoin (BTC) mining, announced today
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.
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.
About BTC Digital Ltd.
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.
For more information, please visit:
https://btct.investorroom.com/
Safe Harbor Statement
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will", "expects", "anticipates",
"future", "intends", "plans", "believes", "estimates", "target",
"going forward", "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
The Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
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SOURCE BTC Digital Ltd.