CryptoNewsBreaks – Bit Digital Inc. (NASDAQ: BTBT) Partners with Nine Blocks Capital Management to Reach Treasury Optimization Goals
Aug 18, 2022
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 treasury management function. BTBT selected Nine Blocks, an institutionally focused digital assets manager managing a digital assets market neutral fund for an allocation, to support the company’s efforts to enhance its treasury management process. According to the announcement, the selection includes a direct investment into the Nine Blocks Master Fund, a digital assets market neutral fund using basis trading, relative value and special situations strategies. An official from Nine Blocks noted that the support company is dedicated to support institutional investors that want digital assets exposure, with fund managers who have an established digital assets track record, are regulated, have traditional finance experience and comply with the highest operational due diligence requirements. Nine Blocks Capital Management was set up by Nine Mast Capital Management, the investment manager of a market neutral hedge fund with over $1 billion in assets under management. “We are excited to announce our selection of Nine Blocks Capital Management as a treasury management partner,” said Bit Digital chief strategy officer Sam Tabar in the press release. “We constantly search for ways to maximize the risk-adjusted return potential of our assets, and we believe this partnership marks an important step towards our treasury optimization goals. We’ve seen Nine Blocks’ market neutral strategy perform well throughout the recent period of market volatility, which enhanced our confidence in the selection of this manager. We believe that Nine Blocks and its management team are a strong cultural fit for our company and share our vision for the broader digital assets industry, and we believe this partnership will ultimately become a source of long-term value creation.”
To view the full press release, visit https://ccw.fm/4oZjW
About Bit Digital Inc.
Bit Digital is a Bitcoin mining company headquartered in New York City. The company’s mining operations are located in North America. For additional information about this company, visit www.Bit-Digital.com.
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