BTC Digital Converts to ETH: The Company Redefines Its Business Model
The blockchain technology and mining firm BTC Digital has closed a $6 million financing round and made a strategic change by fully committing to Ethereum. On Thursday, the company—which is traded on the Nasdaq under the ticker BTCT—announced a radical, strategic change to completely adopt Ether as its primary asset and operational basis.
The company announced the addition of a new Ether position worth $1 million. In order to create a long-term, profitable on-chain asset pool and center its mid- and long-term growth around the Ethereum ecosystem, it plans to convert all of its current and future Bitcoin holdings into ETH.
Ethereum has emerged as the premier platform for decentralized finance, real‑world asset tokenization, and scalable smart‑contract innovation,
BTC Digital CEO Siguang Peng
BTC Digital Shifts Focus to Ethereum With Ambitious Yield and DeFi Plans
According to BTC Digital, the company is shifting from a mining-centric business model to one that is driven by digital assets for production. Building ETH-backed yield pools, creating stablecoin infrastructure, and growing alliances throughout the Ethereum ecosystem—including DeFi, NFTs, and layer-2 scaling solutions—are important strategic efforts.
By centering our digital‑asset strategy on Ethereum, BTCT is creating a robust framework for long‑term value creation, diversified yield sources, and innovative financial products,
Peng
By the end of the year, the corporation wants to have tens of millions of dollars in ETH reserves. Additionally, it intends to generate returns through stablecoins, real-world asset ventures, DeFi involvement, and ETH staking.
ETH’s Stunning Comeback: $3,600 Milestone Fueled by CLARITY and GENIUS Acts
Early Friday trading saw Ether price reach a six-month high of $3,600, the highest amount since early January. Over the last two weeks, the asset has increased by an astounding 40%.
The reversal of fortunes ETH has experienced compared to a few months ago is staggering, and we will almost certainly see further upside, driven in part by the passing of the CLARITY and GENIUS Acts,
Nic Puckrin, investor and founder of The Coin Bureau
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