Cryptocurrencies are rounding into form. Bitcoin, the world's largest cryptocurrency by market cap, hit fresh all-time highs of more than $123,000 on July 14. The asset's run has also sent a jolt into Ethereum ( ETH 4.35%), which shot up to almost $3,500 per token on July 17 after having a difficult year so far.

"We sold all our Bitcoin and we did this raise. I actually personally participated in that raise myself with my own savings," Tabar explained to CNBC this week. Bit Digital shares are trading about 82% higher since that raise, which is a win for him and Tether co-founder Brock Pierce who also participated in the round, according to SEC filings.

All large cryptocurrencies were up during U.S. morning trading on Wednesday, with Ethereum ETHUSD +4.73% seeing the biggest move, climbing 5.04% to $3,197.27.