Hyper Bit Closes C$1.49M Private Placement to Fuel Crypto Mining Expansion

Hyper Bit Technologies has closed a C$1.49M private placement to fund its growth in the crypto mining space.

The Vancouver-based company, listed on the Canadian Securities Exchange as HYPE, raised gross proceeds of C$1,487,500 by selling 14,875,000 units at C$0.10 each. 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.

Hyper Bit plans to use net proceeds from the sale to buy crypto mining rigs, pay outstanding debts, fund marketing, and cover general working capital.