Bit Digital Converts Treasury to Ethereum
Bit Digital converts its treasury to Ethereum by selling all ~280 BTC holdings and deploying $172 million from a June equity offering. The Nasdaq-listed miner now holds over 100,000 ETH, up from 24,400 ETH at Q1 close.
CEO Sam Tabar highlights Ethereum’s programmable smart contracts, deflationary supply, and 3–5% staking yield as core drivers. Exiting legacy Bitcoin mining, the firm shifts to ETH staking and taps DeFi growth.
Bit Digital runs an institutional-grade validator network and joined the Strategic ETH Reserve consortium with BioNexus Gene Lab and SharpLink. This move converts its treasury to Ethereum and positions the company to benefit from network upgrades, growing on-chain activity, and rising institutional demand for diversified, high-yield crypto assets.
Bullish
Bit Digital’s conversion of its treasury to Ethereum represents significant institutional demand for ETH. Selling ~280 BTC and deploying $172 million to accumulate over 100,000 ETH drives immediate buy-side pressure. The focus on staking yields and DeFi exposure underpins positive long-term outlook, as programmable smart contracts and upcoming network upgrades attract further capital. Traders can expect bullish momentum for ETH in both short and long term due to this high-profile corporate shift.