Bit Digital, a Nasdaq-listed mining company, has made a strategic investment in market maker Auros. Although the exact figure of the transaction was not disclosed, the investment is intended to maximize risk-adjusted returns on the company’s digital assets.
The Auros Derivatives Solutions offering will provide Bit Digital with treasury and risk management solutions, as well as liquidity and market-building opportunities. Samir Tabar, director of strategy at Bit Digital, said that this is the key to a healthy and vibrant digital asset ecosystem.
At the end of 2022, Auros sought to restructure operations after losing access to $20 million in the collapsed FTX, which was a “significant portion” of the company’s assets. Prior to this, Auros had become a member of the Clearpool lending protocol, designed for institutional investors.