Bit Digital stock falls after announcing $100 million convertible note offering

Bit Digital's stock has taken a hit following the announcement of a $100 million convertible note offering. This move raises concerns among investors about the company's financial health and future prospects. Convertible notes can be a double-edged sword; while they provide immediate capital, they may dilute existing shares, leading to uncertainty in the market. Understanding the implications of such financial strategies is crucial for investors as they navigate the complexities of the stock market.