Bit Digital, a cryptocurrency mining and digital asset services provider, is moving toward Ethereum, changing its treasury strategy and significantly increasing its ETH holdings.
Strategy Shift to Ethereum
Bit Digital has decided to fully change its treasury strategy, focusing its assets on Ethereum. CEO Sam Tabar noted that this decision is linked to Ethereum's potential to alter the financial system.
Financial Results and Holdings
Currently, the company holds 100,603 ETH, made possible by the IPO that raised approximately $172 million and the sale of Bitcoin worth about $28 million. This has increased the company’s total Ethereum assets to $254.8 million.
CEO Statements and Future Plans
Sam Tabar emphasized that the company plans to aggressively increase its ETH holdings and aims to become the largest Ethereum asset company in the world. He stated, 'We believe in Ethereum's long-term potential and aim to be a focused Ethereum treasury platform in the public market.'
Bit Digital's significant shift in its financial strategy towards Ethereum highlights the growing interest in this cryptocurrency and potential changes in the digital asset industry.
