$67M For More ETH: Bit Digital Expands Its Ethereum Treasury Beyond 120,000 Coins
Bit Digital Inc. (NASDAQ:BTBT) has announced the purchase of 19,683 Ethereum (CRYPTO: ETH), bringing its total Ethereum holdings to approximately 120,306 ETH.
What Happened: The acquisition was funded through proceeds from a recently completed $67.3 million registered direct offering to institutional investors, reinforcing Bit Digital's position as one of the largest institutional holders of Ethereum among public companies.
“With approximately 120,000 ETH, Bit Digital is positioned among the largest institutional Ethereum treasuries in the public markets,” said CEO Sam Tabar. “We view Ethereum as foundational to the next phase of digital financial infrastructure.”
Bit Digital's strategy aligns with a broader industry trend of public and private firms incorporating digital assets, beyond Bitcoin, into their treasuries.
In March 2024, Semler Scientific Inc. (NASDAQ:SMLR) announced it had purchased 581 Bitcoin (CRYPTO: BTC) worth approximately $40 million at the time, following Strategy's (NASDAQ:MSTR) playbook.
More recently, Thumzup Media Corporation (NASDAQ:TZUP) authorized a $250 million crypto treasury diversification that includes Bitcoin, Ethereum (CRYPTO: ETH), XRP (CRYPTO: XRP), Dogecoin (CRYPTO: DOGE), Solana (CRYPTO: SOL), Litecoin (CRYPTO: LTC), and USDC (CRYPTO: USDC).
Also Read: Another $1.1 Billion: Is This Bitcoin, Ethereum ETF Buying Spree Sustainable?
Why It Matters: Companies like Bit Digital and Thumzup are expanding beyond Bitcoin-only strategies, betting on the broader utility of programmable assets like Ethereum and the transactional efficiency of stablecoins and altcoins.
"Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets," Tabar noted.
Bit Digital has been accumulating ETH since 2022 and currently operates one of the largest institutional Ethereum staking infrastructures globally.
The company actively stakes the majority of its ETH and runs validator nodes, participating in network governance while generating yield.
This dual approach, asset exposure and protocol participation, reflects how some publicly traded firms are embedding themselves into the crypto economy while maintaining compliance with traditional market standards.
Ethereum continues to play a critical role across decentralized finance (DeFi), stablecoin collateralization, and tokenized asset issuance.
Bit Digital's move to deepen its Ethereum exposure echoes a strategic belief that ETH will underpin key financial and technical systems in the coming years.
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