Bit Digital just made a bold move that’s turning heads across the crypto world. The business has formally switched its focus from Bitcoin to Ethereum. Its stock increased by more than 26% in a single morning, indicating that the markets are reacting.
Why did Bit Digital dump its Bitcoin holdings?
To become a major ETH staking powerhouse, Bit Digital is doubling down on Ethereum and abandoning Bitcoin.
The stock of Bit Digital (BTBT) surged 26.02% in morning trading following the company’s announcement of a significant switch to Ethereum. The stock had increased $0.7650 to $3.7050, hitting a high of $3.7150 in yesterday morning. This increase came after the business declared that its shift to a treasury strategy centered on Ethereum was complete.
Bit Digital acknowledged using the money raised from a recent IPO to increase its Ethereum holdings. The business used the $172 million in gross proceeds it had raised to purchase Ethereum. It also sold 280 Bitcoin to raise awareness of Ethereum.
How much Ethereum does Bit Digital hold now?
As of March 31, 2025, Bit Digital had 24,434 ETH in circulation. The company currently has about 100,603 in ETH holdings after recent acquisitions. This represents a clear change from its previous mixed-asset strategy to concentrating only on Ethereum.
Ethereum can rewrite the entire financial system.
— Bit Digital, Inc. NASDAQ:BTBT (@BitDigital_BTBT) July 7, 2025
We are aligning ourselves with Ethereum’s long-term potential. Bit Digital accumulated 100,603 ETH — and we intend to aggressively add more to become the preeminent ETH holding company in the world.
We have converted BTC… pic.twitter.com/o8la1Jur0w
According to the company, Ethereum’s staking model and programmable structure complement its long-term objectives. Bit Digital is positioned as a key participant in institutional Ethereum staking with this new approach. The business intends to hold more ETH than the current 100K.
Bit Digital sold about 280 BTC and used the money to buy more Ethereum in order to reduce its Bitcoin holdings and speed up its Ethereum push. This action is in line with the business’s overarching plan to concentrate on treasury growth and Ethereum-native staking. By taking these steps, Bit Digital hopes to become the leader in ETH-centric public market positioning and is refocusing its exposure to digital assets around Ethereum.
What’s their strategy for ETH staking?
With institutional-grade platforms, Bit Digital now operates one of the biggest Ethereum validator infrastructures among publicly traded companies, providing staking, protocol governance, and onchain yield strategies.
The company aims for improved onchain returns and long-term platform growth by leveraging strategic alliances within the Ethereum ecosystem to support scale, compliance, and security. To optimize Ethereum exposure, Bit Digital has synchronized its capital allocation, platform buildout, and operational strategy.
With the goal of growing its presence in the Ethereum ecosystem and surpassing 100K ETH, Bit Digital positions itself as a top Ethereum holding and staking company. The business views Ethereum as essential to the financing of digital assets as the platform develops.
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