Bit Digital sold 280 bitcoin using proceeds to buy more ETH

Bit Digital sold 280 bitcoin using proceeds to buy more ETH

Bit Digital, Inc. (NASDAQ: BTBT), a publicly traded digital asset platform, has made a significant shift in its corporate treasury strategy by selling 280 Bitcoin (BTC) and using the proceeds to purchase additional Ethereum (ETH). This strategic move aligns with the company's broader objective of becoming a leading Ethereum-focused treasury company.

On July 1, 2025, Bit Digital completed a $162.9 million public offering, with all proceeds allocated towards the acquisition of ETH. This move follows a broader trend of institutional investors favoring Ethereum for its yield-generating capabilities and utility in decentralized finance (DeFi) and Web3 infrastructure [2].

Prior to this transaction, Bit Digital held 24,434 ETH as of March 31, 2025. With the additional ETH acquired from the public offering and the sale of BTC, the company has now accumulated approximately 100,603 ETH [1].

"We believe Ethereum has the ability to rewrite the entire financial system," said Sam Tabar, Chief Executive Officer of Bit Digital. "Bit Digital is aligning itself with Ethereum's long-term potential and positioning itself as a focused Ethereum treasury platform in the public markets. We are starting with exposure to over 100K ETH for now but we intend to aggressively add more so we become the preeminent ETH holding company in the world" [1].

The sale of 280 BTC, valued at approximately $162.9 million at the time of the transaction, allowed Bit Digital to increase its ETH holdings. This strategic shift underscores the growing institutional momentum behind Ethereum treasury strategies, as more companies recognize the potential of Ethereum’s staking capabilities and its role in the broader cryptocurrency ecosystem [2].

Bit Digital's transition to an Ethereum-focused treasury strategy is part of a broader trend among public companies. For instance, SharpLink Gaming became the world’s largest publicly traded Ethereum holder in June 2025, accumulating 188,478 ETH worth approximately $457 million through aggressive buying campaigns [2].

Institutional investors appear to be gravitating toward Ethereum’s staking capabilities due to its promising yield on treasury holdings. Thomas Lee of Fundstrat Global Advisors, who recently joined BitMine’s board, described Ethereum as a “higher beta” asset than Bitcoin due to its foundational role in stablecoin transactions and decentralized finance applications [2].

Bit Digital’s strategic shift signals a significant change in corporate treasury management, emphasizing the potential of ETH as a capital reserve asset. The company's focus on Ethereum staking and its growing ETH holdings position Bit Digital as a key player in the evolving cryptocurrency landscape.

References:
[1] https://www.prnewswire.com/news-releases/bit-digital-shifts-entire-treasury-to-ethereum-becomes-one-of-the-largest-eth-holders-among-public-companies-302498824.html
[2] https://www.ainvest.com/news/bit-digital-raises-163-million-ethereum-shift-bitcoin-mining-decline-2507/