While the world of crypto is busy hoarding Bitcoin, one daring Nasdaq firm, Bit Digital, has decided to take a different path, dumping Bitcoin for a hefty pile of Ethereum. 🤷♂️
Bit Digital, with its bold and somewhat audacious move, is now steering its ship towards the Ethereum horizon. After raising a whopping $172 million from eager investors, the company is on a mission to become the world’s largest corporate holder of ETH. With over 100,000 ETH already in its coffers, Bit Digital is not just dipping its toes but diving headfirst into the Ethereum pool. 🏊♂️
From Bitcoin to Ethereum Treasury
Bit Digital recently made headlines by selling off all 280 BTC from its balance sheet, using the proceeds to buy Ethereum. But that was just the appetizer. The company also raised $172 million through a public offering, and every last cent is being poured into more ETH. 🤑
Before this seismic shift, Bit Digital had a modest 24,000 ETH. Now, it boasts a staggering 100,603 ETH, making it one of the biggest corporate holders in the game. 🏆
Ethereum can rewrite the entire financial system.
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…
— Bit Digital, Inc. NASDAQ:BTBT (@BitDigital_BTBT) July 7, 2025
Leading this ambitious pivot is CEO Sam Tabar, who insists this isn’t just a quick cash grab. He believes Ethereum’s smart contracts, growing adoption, and staking rewards make it a more promising investment for the future than Bitcoin. 🚀
Following this announcement, Bit Digital’s stock soared nearly 18%, trading at $3.48 and gaining more than 73% in just one week. 📈
Others Are Joining the Ethereum Treasury Club
Bit Digital isn’t the only one jumping on the Ethereum bandwagon. BitMine Immersion Technologies recently raised $250 million privately to build its own Ethereum treasury, abandoning its previous Bitcoin-first strategy. 🚀
Meanwhile, SharpLink Gaming made an even bigger splash by purchasing over 176,000 ETH for $463 million, becoming the biggest public company holder of Ether so far. 🌟
Where’s ETH Price Heading?
As Bit Digital doubles down on its Ethereum vision, the price of ETH has been on the rise. It recently climbed above $2,550 and may aim for $2,650 or even $2,800 if the momentum continues. 📈
However, if it fails to break through $2,580 cleanly, a pullback might be on the horizon. 🤞
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2025-07-08 09:19