Bit Digital has fully shifted its treasury strategy to Ethereum, using $172 million from a recent public offering to buy ETH. The company sold its remaining Bitcoin (280 BTC) to further boost its Ethereum holdings. With this move, the company now holds over 100,600 ETH, a fourfold increase since March 2025.
“We believe Ethereum has the ability to rewrite the entire financial system. Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets,” Sam Tabar, Chief Executive Officer of Bit Digital said.
“Bit Digital is aligning itself with Ethereum’s long-term potential and positioning itself as a focused Ethereum treasury platform in the public markets. We are starting with exposure to over 100K ETH for now but we intend to aggressively add more so we become the preeminent ETH holding company in the world,” he added further.
Bit Digital Ditches Bitcoin, Chooses Ethereum
On June 25, Bit Digital announced that it’s making a major change; the company will now focus completely on Ethereum. They are moving away from other cryptocurrencies to specialize in Ethereum staking (earning rewards by locking up ETH) and treasury management.
The company started investing in Ethereum back in 2022 and has been slowly increasing its ETH holdings. Recently, they sold all their 280 Bitcoins. Using $172 million from a recent fundraising to buy more Ethereum.
Surprisingly, new data shows that investors are putting more money into Ethereum than Bitcoin right now. Bitcoin investments dropped to $790 million last week, which is down from $1.5 billion on average. Ethereum has seen money flowing in for 11 straight weeks.
Bit Digital is making a risky but potentially rewarding bet by focusing only on Ethereum. While their recent earnings were slightly disappointing, many investors seem excited about their direction.
Recently, BitMine, a company that mines Bitcoin, just got $250 million from investors to start building up its Ethereum reserves. The company sold shares to big investment firms at $4.50 each, with the deal expected to close this Thursday if approved. Major backers include well-known names like Founders Fund, Pantera Capital, and Kraken.
“By having a direcT ETH treasury position, the company has access to native protocol-level activities, such as staking and decentralized finance mechanisms, on the Ethereum network,” the company stated in the announcement.
BitMine and Bit Digital are not the only companies to have acquired Ethereum for their treasuries. For example, sports betting platform SharpLink Gaming recently purchased $463 million in Ethereum (ETH), making it the largest publicly traded holder of Ethereum.
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