Bit Digital has executed a strategic portfolio shift by massively expanding its Ethereum reserves, now holding over 100,000 ETH. This positions the company as the second-largest public holder of Ether globally, trailing only Coinbase according to CoinGecko rankings.
The holding surge represents a dramatic increase from its first-quarter position of 24,434 ETH, marking a deliberate pivot away from Bitcoin-focused strategies. This accumulation strategy boosted Bit Digital’s market prominence and triggered significant market momentum.
Following the portfolio expansion, Bit Digital’s stock (BTBT) surged over 29% with the firm’s market capitalization surpassing $1 billion. The move signals growing corporate confidence in Ethereum’s ecosystem, extending treasury strategies beyond Bitcoin-centric approaches.
The strategic reallocation reflects institutional recognition of Ethereum’s evolution within decentralized finance and digital asset innovations. Bit Digital’s accumulation underscores broader institutional trust in Ethereum’s long-term utility and transformative potential across blockchain applications.