NewsHK
BTC Digital Ltd., the Singapore-based company trading as $BTC, has closed a private placement financing of up to $28 million, receiving approximately $7 million in upfront proceeds as the first tranche of a phased capital raise.
The funds are earmarked for the construction of an 8-megawatt AI computing center in the U.S. state of Georgia, a project the company frames as central to its strategic shift toward AI computing infrastructure.
Capital Structure and Phased Deployment The financing is structured as a private placement, with the headline figure of up to $28 million representing the total potential raise rather than cash in hand.
The roughly $7 million received upfront reflects the deal's staged design, with additional proceeds expected to follow as the Georgia build-out advances through its phases.
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