Hyper Bit closes C$1.49M private placement to buy crypto mining rigs
What's the deal? Hyper Bit TechnologiesDealroom has a profile for this one. Try Dealroom → has closed a non-brokered private placement raising C$1,487,500 in gross proceeds. The Vancouver-based company, listed on the Canadian Securities ExchangeDealroom has a profile for this one. Try Dealroom → as HYPE, sold 14,875,000 units at C$0.10 each.
The terms: Each unit pairs one common share with one warrant, exercisable at C$0.15 for 36 months. The company can accelerate the warrants if shares close at or above C$0.30 for five consecutive trading days.
What's the money for? Hyper Bit plans to use net proceeds to buy crypto mining rigs, pay outstanding debts, fund marketing, and cover general working capital.
Why now? Citing "high investor demand," the company dropped a debt-settlement plan flagged in its August 25 news release. It paid C$48,800 in cash finder's fees and issued 488,000 finder's warrants at C$0.10, exercisable for 36 months.
The signal: At roughly $1.1 million, the raise sits toward the smaller end of funding rounds — a modest capital top-up for a microcap miner expanding hardware rather than a growth-stage bet.
Read more: wallstreet-online.de
Image credit: digicloudmedia
