Bit Digital buys 31,057 ETH with $150M convertible notes offering proceeds.

Bit Digital, a leading Ethereum digital asset treasury company, has purchased 31,057 Ethereum using proceeds from its $150 million convertible notes offering. The company now holds approximately 150,244 ETH, making it one of the largest institutional Ethereum treasuries. The purchase reinforces Bit Digital's forward-looking balance sheet anchored by ETH and AI infrastructure.

Bit Digital, a prominent Ethereum-focused digital asset treasury company, has recently bolstered its Ethereum holdings by purchasing an additional 31,057 ETH using proceeds from its $150 million convertible notes offering. This strategic move positions Bit Digital as one of the largest institutional Ethereum treasuries, further solidifying its forward-looking balance sheet anchored by ETH and AI infrastructure Bit Digital Treasury Report Signals Full Ethereum Focus Over Bitcoin: Holdings Now at 122,187 ETH^[1].

The company now holds approximately 150,244 ETH, an impressive figure that underscores its commitment to Ethereum as a productive, income-bearing asset. This acquisition follows a broader trend among institutional players towards Ethereum staking, which offers predictable yields with less energy intensity compared to traditional mining strategies Tom Lee’s BitMine Boosts Ethereum Stash Above $13 Billion, Now Holds Over 2% Of ETH Supply^[2].

Bit Digital's shift from Bitcoin mining to an Ethereum-focused yield strategy has been a strategic pivot. The company's treasury strategy now revolves around staking, treating Ethereum as a productive asset rather than a speculative token. This approach allows Bit Digital to earn passive rewards while maintaining long-term exposure to Ethereum's market value Bit Digital Treasury Report Signals Full Ethereum Focus Over Bitcoin: Holdings Now at 122,187 ETH^[1].

The company's latest treasury report highlights its evolving model, with 81.8% of its ETH holdings staked during the period, earning 291 ETH in rewards. This equates to a 3.37% annualized yield, translating into approximately $1.2 million in additional income for September 2025 alone Bit Digital Treasury Report Signals Full Ethereum Focus Over Bitcoin: Holdings Now at 122,187 ETH^[1].

Bit Digital's recent $150 million convertible notes offering underscores its commitment to expanding its Ethereum holdings. The company plans to deploy these proceeds into further Ethereum purchases, aligning with its yield-driven operations and reduced dependency on volatile Bitcoin mining revenue Bit Digital Treasury Report Signals Full Ethereum Focus Over Bitcoin: Holdings Now at 122,187 ETH^[1].

The company's Ethereum-focused strategy is part of a broader movement among corporate treasuries exploring staking as a scalable way to earn income while staying engaged with the crypto ecosystem. As more companies adopt this model, Bit Digital's approach could serve as an early example of how blockchain assets are maturing into productive, yield-based investments Bit Digital Treasury Report Signals Full Ethereum Focus Over Bitcoin: Holdings Now at 122,187 ETH^[1].