NEW YORK, June 30, 2026, 07:03 EDT
- BTC Digital traded at $1.260 before the open, up 84.5% from its $0.6828 finish on Monday.
- The company raised $7 million upfront, more than its current listed market value of $6.50 million.
- The full $28 million comes in if warrants are exercised at $1.71 a share.
- Investors are weighing dilution risks against the chance the Georgia AI site lands its first tenant.
BTC Digital Ltd. NASDAQ:BTCT soared ahead of Tuesday’s open after the company said it closed a private placement raising $7 million upfront, with potential for another $21 million if investors cash in warrants.
At the time, Nasdaq was trading in pre-market. Pre-market on Nasdaq goes from 4:00 a.m. to 9:30 a.m. ET. NasdaqTrader’s 2026 U.S. equity holiday calendar doesn’t list June 30 as a holiday.
BTC Digital traded at $1.260 at 06:45:59 a.m. EDT, up 84.5% in pre-market action. The stock ended Monday at $0.6828, off 7.7%. MarketScreener reported the moves.
The investor focus is on the size of the financing compared to the company’s equity. Google Finance puts BTC Digital’s market cap at $6.50 million. Volume was 20.55 million shares with an average of 294,270 shares and 9.52 million shares outstanding.
| Measure | Figure | Investor read-through |
|---|---|---|
| Latest listed market cap | $6.50 million | Marks the current equity |
| Upfront financing | $7.0 million | Works out to 108% of market cap |
| Potential financing if warrants are exercised | $28.0 million | Could be 431% market cap |
| Trading volume vs average | 20.55 mln / 0.294 mln | Volume ran 70x above average |
The company said it raised about $7 million upfront in gross proceeds from the deal, and that the total could go to around $28 million with the warrants. The company said it plans to use the cash for the first phase of an 8 megawatt AI computing center in Georgia, adding that part of that first-phase capacity could start up in about six months. Revenue would begin once it lands its first anchor tenant, according to the statement.
Dilution is big here. BTC Digital’s June 26 placement was for 6,140,350 common or pre-funded units at $1.14. Every unit has one ordinary share or pre-funded warrant, plus two common warrants set at a $1.71 exercise price. The company said there’s no guarantee holders will exercise the warrants.
| Deal item | Shares or share-equivalents | Compared with 9.52 mln shares outstanding |
|---|---|---|
| Common and pre-funded units | 6.14 mln | 65% |
| Common warrant shares on full exercise | 12.28 mln | 129% |
| Full simple share-equivalent total | 18.42 mln | 194% |
| Fully converted total | 27.94 mln | 2.9 times the end-2025 number |
CEO Siguang Peng said the funding is “a pragmatic growth path” and the company will try it “step by step.” BTC Digital hasn’t named an anchor tenant in the release, making the short quote stand out.
BTC Digital’s last annual report spelled out the funding need. As of Dec. 31, 2025, it held $350,000 in cash, but owed $2.17 million in short-term loans. For 2025, it saw $14.04 million in revenue but booked a net loss of $9.06 million.
The company reported 2,996 crypto-mining rigs active at the end of 2025, good for 390.1 PH/s in operating hash rate. Annual production landed at 14.127 bitcoin, with Dogecoin and Litecoin also mined that year. Mining revenue totaled $1.8 million.
| Company | Ticker | Latest price | Market cap | Last move |
|---|---|---|---|---|
| BTC Digital Ltd. | NASDAQ:BTCT | $0.6828 at close, now $1.260 pre-market | $6.50 mln | up 84.5% pre-market |
| Bit Digital Inc. | NASDAQ:BTBT | $1.83 | $595.9 mln | down 7.8% |
| Canaan Inc. | NASDAQ:CAN | $0.2981 | $1.05 bln | off 0.7% |
| BitFuFu Inc. | NASDAQ:FUFU | $1.50 | $41.9 mln | added 1.3% |
| BTCS Inc. | NASDAQ:BTCS | $1.09 | $52.6 mln | up 2.8% |
BTC Digital’s market cap still trails larger crypto-computing stocks, even after Tuesday’s move before the bell. Recent figures showed Bit Digital Inc. NASDAQ:BTBT, Canaan Inc. NASDAQ:CAN, BitFuFu Inc. (NASDAQ:FUFU), and BTCS Inc. NASDAQ:BTCS all holding higher valuations.
Bitcoin changed hands at $59,269, off 1.1% in the latest trade. BTC Digital’s move on Tuesday tracked the story out of Georgia, where the AI data center is racing to get a financing deal converted into actual hosting revenues before warrants dilute the stock. The day’s action had less to do with bitcoin itself.
