
Bit Digital's Ethereum holdings have reached $675 million, making them the sixth-largest holder of the cryptocurrency.
Bit Digital has significantly increased its Ethereum holdings, now possessing approximately 150,244 ETH, representing roughly $675 million. This expansion followed a $150 million convertible notes offering, with proceeds used to acquire an additional 31,057 ETH. The move underscores the company’s strategic shift from Bitcoin mining to a focus on Ethereum staking and treasury management. The company is transitioning to generate revenue through validator operations, custody solutions, and yield optimization, with contributions from AI-focused firm WhiteFiber. Year-over-year Bitcoin-related revenue has declined substantially, demonstrating a clear commitment to the Ethereum-centric model. Bit Digital now ranks among the top six global Ethereum treasuries. Institutional interest in Ethereum is surging, with U.S.-listed spot Ether ETFs recording significant net inflows. Other companies like SharpLink Gaming and Bitmine are also aggressively accumulating ETH, showcasing growing confidence in the digital asset’s potential. Ethereum currently trades around $4,504.