Digital asset platform and holding company Bit Digital has sold all of its Bitcoin and completely transitioned to Ethereum for its crypto holdings, as per a company announcement on July 7, 2025. The large-scale acquisition of ETH was funded by $172 million in proceeds raised by a public offering and a divestment of 280 BTC, valued at approximately $30.5 million.
Source: X.com
Before the offering, Bit Digital had approximately 24,434 ETH in its holdings, and with the latest acquisition, the company’s ETH holdings are now over 100,000 ETH.
Bit Digital’s CEO, Sam Tabar, commented on the recent move to Ethereum, noting the blockchain’s staking model and high potential.
“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,” said Tabar.
Bit Digital shares touched $3.5 after the announcement, going up 21%. The company now joins a growing list of institutional players who have opted for an Ethereum treasury strategy instead of Bitcoin, often citing reasons such as better features, programmable interfaces, and quicker transaction speeds.