Crypto exchange Bit Digital has made headlines with its acquisition of $140 million worth of Ethereum, further cementing its position as one of the largest corporate holders of the cryptocurrency. This move makes it the third-largest holder after SharpLink and BitMine Immersion. The company financed this purchase through a $150 million convertible note issuance. This means investors lend money now, which can later be converted into shares at a fixed price. Major crypto-linked financial players such as Kraken Financial, Jump Trading Credit, and Jane Street Capital have also participated in this funding round. 50% of the investor group is comprised of institutional players, while retail investors are also looking for similar growth opportunities.