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Bit Digital Invests $254M in Ethereum
Bit Digital (BTBT) has made a bold pivot in the crypto market, officially selling off its entire Bitcoin (BTC) holdings to go all-in on Ethereum (ETH). The move has not only redefined the company’s strategy but also positioned it as one of the largest publicly traded ETH holders globally.
From Bitcoin Mining to Ethereum Treasury
In a press release, Bit Digital announced it sold 280 BTC, worth roughly $28 million, and combined that with $172 million raised from a recent public offering. The result? A massive $192.9 million investment in Ethereum. As of March 31, 2025, Bit Digital held 24,434 ETH. With this recent purchase, its ETH holdings have surged to 100,603 ETH, valued at approximately $254.8 million.
This shift marks the company’s full transition from a Bitcoin mining firm to an Ethereum treasury-focused platform.
“There is no second best,” the company stated, emphasizing ETH as the most impactful digital asset of the generation.
Why Ethereum?
In an interview with CNBC, CEO Sam Tabar described Ethereum as a “living asset” powering real economic activity. Unlike Bitcoin, he said, Ethereum benefits from fees generated by DeFi, stablecoins, and tokenization, all of which create value for ETH holders.
“Ethereum is where economic throughput is heading,” Tabar added.
Stock Surges, Market Reacts
Investors seem to agree. According to Google Finance, Bit Digital’s shares jumped 18.37% during trading on July 7, followed by an additional 10.3% gain in after-hours trading.
Other firms like BitMine and Sharplink are also betting big on ETH. Analyst Eric Conner reports that public companies have now accumulated 388,000 ETH, while only 70,000 ETH have been newly minted — signaling growing corporate demand outpacing supply.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
