The P.P. to close Feb 10 BITF has just annouced another financings a couple days ago to raise $40.0 million.
11,560,695 common shares at a purchase price of CAD$3.46 per common share and associated warrant.
The warrants have an exercise price of USD$3.01 per common share and exercise period of three and one-half years.
The money will be used by the Company principally to acquire additional miners, expand infrastructure, and improve its working capital position.
I would suspect that there has been some shareholders selling in order to take advantage of the $3.46 price plus the warrants.
The private placement is expected to close on or about February 10, 2021
BITF has over these last 2 months raised $80.0 million, so the treasury is fine.
After tomorrow the share price should have a good run to catch up with some of the others.
To better days ahead.