BitMine’s Lee calls ETH a ‘discount to the future,’ Bit Digital eyes $100M

BitMine chairman Tom Lee thinks Ether is trading at a discount because future adoption of the blockchain by Wall Street and AI companies will drive it higher.

Digital asset company Bit Digital plans to raise $100 million through a convertible senior note offering to grow its Ether treasury, while BitMine Immersion Technologies has extended its lead as the largest Ether treasury company.

Bit Digital said in a statement on Monday it’s also offering an option for an extra $15 million in notes, with all net proceeds earmarked for more Ether (ETH) purchases, plus general corporate purposes, “including potential investments, acquisitions and other business opportunities relating to digital assets.”

Bit Digital currently holds more than 120,000 Ether and is the seventh-largest Ether treasury company tracked by StrategicEtherReserve. If successful in its raise, the company could purchase another 23,714 tokens, which would bump it up the list to sixth, ahead of crypto exchange Coinbase.

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