Bit Digital, in a move that could only be described as a dramatic pivot, has officially shifted its focus to a fully Ethereum-based treasury strategy. The company, with a flair for the dramatic, has sold off its remaining 280 Bitcoin (BTC) holdings, embracing the world’s second-largest cryptocurrency with open arms and a hefty stash of over 100,603 Ethereum (ETH). 🤑
According to a press release on July 7, the Nasdaq-listed company has made a bold move, selling about 280 Bitcoin and now boasts a treasury that includes a staggering 100,603 Ethereum, making it one of the biggest institutional Ethereum holders in the world. 🌍
The strategic pivot follows Bit Digital’s $172 million public offering in June, the proceeds of which were used exclusively to purchase Ethereum. The company already held 24,434 ETH as of March 31, 2025. With its recent acquisitions, it has now quadrupled its ETH reserves, a move that could only be described as a leap of faith—or perhaps a well-calculated gamble. 🎲
Chief executive officer Sam Tabar framed the move as a long-term bet on Ethereum’s ability to reshape finance. “Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets,” Tabar said. “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.” 🚀
This shift comes as Bit Digital exits its legacy Bitcoin mining business. Ethereum’s proof-of-stake model, in contrast to mining, enables businesses to generate yield by staking tokens without the continuous expenses and selling pressure that come with mining. It’s a move that could be seen as a nod to the future, where the old ways of mining are replaced by a more sustainable and profitable model. 🌱
Bit Digital began building its Ethereum staking infrastructure in 2022. Today, it runs one of the biggest validator networks in the market, complete with institutional-grade custody and active governance involvement. With over $300 million in ETH and plans to scale further, Bit Digital is staking its future, and balance sheet, on Ethereum. 📈
The company’s move comes amid a wider institutional shift toward Ethereum as a treasury asset. Ethereum-centric treasury strategies have also been established by other publicly traded companies, such as BioNexus Gene Lab and SharpLink. Together, they form part of the Strategic ETH Reserve, a consortium that keeps track of more than 1.2 million ETH held in corporate treasuries. 🤝
Although Bitcoin is still the most popular cryptocurrency treasury asset in the world, Ethereum is catching up because of its use in decentralized finance, its deflationary design, and its staking rewards, which usually range from 3 to 5% per year. It’s a move that could signal a new era in the world of digital treasuries, where the future is not just about holding, but about actively participating in the growth of the ecosystem. 🌟
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2025-07-08 09:46