Bit Digital dumps 280 Bitcoin, amasses over 100K ETH in Ethereum treasury pivot

Bit Digital Shifts Entire Treasury to Ethereum

In a strategic move, Bit Digital transitions its treasury holdings entirely to Ethereum, as reported on July 7. Following a $172 million public offering, the company has become one of the largest institutional holders of Ethereum, with a focus on leveraging Ethereum's decentralized finance advantages.

• Bit Digital sells 280 BTC to acquire over 100,000 ETH, marking a major shift in strategy.
• CEO Sam Tabar emphasizes confidence in Ethereum's growth and staking benefits.
• The company exits Bitcoin mining to focus on Ethereum's proof-of-stake model.
• This aligns with a broader trend of institutional adoption of Ethereum as a treasury asset.