Bit Digital Amasses Over 100,000 ETH, Completing $172 Million Treasury Shift to Ethereum

Bit Digital, Inc. (Nasdaq: BTBT) announced on July 7, 2025, the completion of its strategic shift to an Ethereum-centric treasury, positioning itself as one of the largest public holders of the cryptocurrency. This move follows a significant capital deployment, with the company utilizing approximately $173 million from a recent public offering and the sale of its Bitcoin holdings to acquire Ethereum. The company now boasts a treasury exceeding 100,000 Ethereum tokens.

The transition involved the sale of roughly 280 Bitcoin (BTC) and the deployment of net proceeds totaling approximately $162.9 million from an underwritten public offering that raised $172 million in gross proceeds. Prior to this, Bit Digital held 24,434 ETH as of March 31, 2025. Following these acquisitions, the company's Ethereum holdings have surged to approximately 100,603 ETH.

Bit Digital CEO Sam Tabar emphasized the company's long-term vision for this pivot.

"We believe Ethereum has the ability to rewrite the entire financial system," Tabar stated, highlighting Ethereum's "programmable nature, growing adoption, and staking yield model" as key drivers. He further indicated an aggressive strategy to "add more so we become the preeminent ETH holding company in the world."

The announcement, initially reported by The Block, stated that Bit Digital "swaps entire treasury into Ethereum, says it's now a top public ETH holder after a $173 million splurge." This strategic divergence from the more common Bitcoin-heavy corporate treasuries has been met positively by the market, with Bit Digital's stock (BTBT) surging over 21% and its market capitalization increasing to over $833 million. This trend reflects growing institutional interest in Ethereum, particularly its role in tokenized securities and real-world assets.

Bit Digital, a digital asset platform focused on Ethereum-native treasury and staking strategies, began accumulating Ethereum in 2022. The company now operates one of the largest institutional Ethereum staking infrastructures globally. This shift aligns with Ethereum's dominance in the real-world asset ecosystem, where it accounts for over 90% of the market with $4.6 billion in assets.