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Bit digital CEO Tabar buys $1.5 million in shares

Published 26/06/2025, 20:40
Bit digital CEO Tabar buys $1.5 million in shares
BTBT
1.36%

Bit Digital (NASDAQ:BTBT) Chief Executive Officer Samir (CSE:SAM) Tabar has acquired 750,000 shares of the company’s stock at $2.00 per share, for a total transaction value of $1.5 million.

According to a Form 4 filing with the Securities and Exchange Commission, the transaction occurred on June 25, 2025. The filing indicates that Tabar now directly owns 2,108,089 shares of Bit Digital.

The purchase represents ordinary shares that the reporting person expects to acquire in an underwritten public offering at a purchase price of $2.00 per share. The underwritten public offering is expected to close on June 27, 2025.

In other recent news, Bit Digital announced its strategic pivot to focus on Ethereum staking and treasury operations, moving away from its Bitcoin mining activities. The company reported $7.8 million in revenue from its Bitcoin mining business in the first quarter of 2025, down from $10.5 million in December. Bit Digital also revealed plans to spin off its WhiteFiber high-performance compute business, which generated $16.5 million in revenue in the first quarter of 2025, an increase from $14.4 million in the previous quarter. To support its new Ethereum-focused strategy, Bit Digital is conducting a $150 million public offering of ordinary shares, pricing them at $2.00 each. The proceeds will be used to purchase Ethereum, with B. Riley Securities leading the offering. The company has secured C$60 million in mortgage financing for its WhiteFiber facility in Québec. Analysts from H.C. Wainwright have reiterated a Buy rating for Bit Digital, projecting WhiteFiber’s revenue could reach $150 million quarterly by the end of 2026. This strategic shift represents a significant transition for the Nasdaq-listed firm as it aims to enhance its position in the Ethereum ecosystem.

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