Bit Digital has announced its full transition to an Ethereum-based treasury strategy, involving the sale of its remaining Bitcoins and the purchase of Ethereum.
Strategic Shift to Ethereum
According to a press release on July 7, the Nasdaq-listed company sold approximately 280 Bitcoins and now holds about 100,603 Ethereum, making it one of the largest institutional holders of Ethereum in the world.
New Treasury Structure
Following a $172 million public offering in June, the proceeds were exclusively used to purchase Ethereum. As of March 31, 2025, Bit Digital already held 24,434 ETH. With recent acquisitions, its ETH reserves have now quadrupled.
Cryptocurrency Market and Ethereum's Future
CEO Sam Tabar framed the move as a long-term bet on Ethereum's ability to reshape the financial landscape. 'Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets,' Tabar stated. With over $300 million in ETH and plans for further scaling, the company is betting its future on Ethereum.
Bit Digital's pivot to Ethereum also reflects a broader institutional trend as companies increasingly turn from Bitcoin to Ethereum as a treasury asset. This shift could have long-lasting implications for the cryptocurrency market.
