Ethereum News Today: As Ethereum Prices Dip, Bit Digital Buys In for Long-Term Gains

Bit Digital, Inc. (NASDAQ: BTBT) has significantly expanded its Ethereum (ETH) holdings, purchasing 31,057 ETH valued at approximately $139 million through a $150 million convertible notes offeringtitle1^[1]. The acquisition, funded by proceeds from the offering-which included full exercise of underwriters' over-allotment options-positions the firm as one of the largest institutional Ethereum treasury holders. The transaction was priced at $4.16 per share, representing an 8.2% premium to the company's estimated mark-to-market net asset value (mNAV) of $3.84 per share at the time of pricingtitle2^[2]. Notable crypto investors such as Kraken Financial, Jump Trading Credit, and Jane Street Capital participated in the offeringtitle3^[3].

Following the purchase, Bit Digital's total Ethereum holdings now exceed 150,244 ETH, valued at approximately $512.7 milliontitle1^[1]. This increase underscores the company's strategic focus on Ethereum as a cornerstone of its digital asset treasury and staking infrastructure. CEO Sam Tabar emphasized the move's alignment with long-term shareholder value creation, stating, "This purchase demonstrates our commitment to building shareholder value by financing ETH accumulation on terms that are accretive to NAV per share"title2^[2]. The firm also holds a majority stake in WhiteFiber Inc. (WYFI), with 27 million shares valued at $723.1 million, further diversifying its asset basetitle1^[1].

The acquisition reflects broader trends in Ethereum's institutional adoption. As of late September 2025, strategic Ethereum treasury firms collectively hold 12.6 million ETH ($56.4 billion), representing over 10.3% of the total supplytitle4^[4]. Bit Digital now ranks among the top institutional holders, trailing entities such as Bitmine Immersion Technologies (2.83 million ETH) and SharpLink Gaming (838,730 ETH). The company's expanded ETH holdings are expected to enhance its staking yield, which generated approximately 291 ETH ($1.3 million) in rewards during September 2025, reflecting an annualized yield of 3.37%title5^[5].

The move also highlights Ethereum's growing role in institutional portfolios, driven by its utility in digital financial infrastructure and post-merge network upgrades. Despite Ethereum's recent price stagnation-trading at $4,484.34 as of October 8, 2025, down 4.69% in 24 hours-corporate treasuries and ETFs continue to accumulate the assettitle3^[3]. Bit Digital's strategy mirrors that of peers like SharpLink Gaming, which has amassed nearly $4 billion in Ethereum holdingstitle4^[4]. Analysts note that institutional Ethereum accumulation could bolster the asset's long-term value proposition, particularly as network upgrades enhance scalability and energy efficiencytitle1^[1].

While Ethereum's price has lagged behind Bitcoin and altcoins like Binance Coin in October 2025, the growing institutional footprint may provide a counterbalance to short-term volatilitytitle3^[3]. Bit Digital's CEO expressed confidence in Ethereum's trajectory, stating, "We view ETH as foundational to digital financial infrastructure and believe current levels provide a compelling long-term entry point." The firm plans to continue expanding its Ethereum treasury in a "cost-effective manner" while leveraging its majority stake in WhiteFiber to drive NAV growthtitle2^[2].