BTBT) partners with Nine Blocks Capital Management to achieve cash optimization goals

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Bit Digital Inc. (NASDAQ: BTBT), a digital asset mining company headquartered in New York, is working with Nine Blocks Capital Management SEZC Limited as part of its enhanced cash management feature. BTBT has selected Nine Blocks, an institution-focused digital asset manager that operates a market-neutral digital asset fund for allocation, to support the company’s efforts to improve its cash management process. According to the announcement, the selection includes a direct investment in the Nine Blocks Master Fund, a market-neutral fund for digital assets using basic, relative value and special situations trading strategies. A Nine Blocks official noted that the backing firm is dedicated to supporting institutional investors who want exposure to digital assets, with fund managers who have established digital asset experience, are regulated, have a background in finance traditional and comply with the highest operational due diligence requirements. . Nine Blocks Capital Management was created by Nine Mast Capital Management, the investment manager of a market-neutral hedge fund with over $1 billion in assets under management. “We are delighted to announce our selection of Nine Blocks Capital Management as our treasury management partner,” said Sam Tabar, Chief Strategy Officer of Bit Digital, in the press release. “We are constantly looking for ways to maximize the risk-adjusted return potential of our assets, and we believe this partnership marks an important step towards our cash optimization goals. We found that Nine Blocks’ market-neutral strategy performed well throughout the recent period of market volatility, which bolstered our confidence in this manager’s selection. We believe that Nine Blocks and its management team are a strong cultural fit for our business and share our vision for the broader digital asset industry, and we believe this partnership will ultimately become a source of long-term value creation. .

To view the full press release, visit https://ibn.fm/ZnaY1

About Bit Digital Inc.

Bit Digital is a Bitcoin mining company headquartered in New York. The Company’s mining operations are located in North America. For more information about this company, visit www.Bit-Digital.com.

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