• February 27, 2024

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Crypto Miner Bit Digital Invests in Market Maker Auros

ByLouis Adams

Mar 27, 2023 #mining
Reading time: < 1 minute

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.