BTC Digital Ltd. (NASDAQ:BTCT) shares are up during Tuesday’s premarket session. On Tuesday, the company announced the closing of previously disclosed private placement financing.
This financing raised approximately $7 million in upfront proceeds. It is aimed at accelerating the company’s transition toward artificial intelligence (AI) computing infrastructure.
Details
This marked the launch of its 8 MW AI computing center in Georgia. Including associated warrants, the financing could generate up to approximately $28 million in total gross proceeds.
The initial funding will support the first phase of the company’s transition from cryptocurrency mining to AI infrastructure, covering liquid-cooling and power systems, facility upgrades, and the buildout of a data center operations team.
