Another BTC Mining Firm Moves Into Ethereum Reserve, Hailing ETH as ‘Digital Gold’
2025-07-12 17:29:31
Main Idea
BTC Digital (BTCT) has invested $1 million in ether, labeling it as the company's new 'digital gold', as part of its strategic shift from bitcoin mining to treasury management and decentralized finance opportunities.
Key Points
1. BTC Digital (BTCT) moved $1 million of company cash into ether (ETH), referring to it as the new 'digital gold'.
2. The firm plans to expand its ETH reserve as upgrades increase capacity and U.S. regulations become clearer.
3. BTCT is transitioning from a bitcoin mining company to a treasury-focused strategy, similar to Bit Digital (BTBT), which shifted its entire treasury from BTC to ETH.
4. Public ether treasuries, including those of DAOs, Layer-2 networks, and publicly-traded firms, now hold over 1.34 million ETH.
5. BTCT's stock rose 13% following the announcement, while Bit Digital's stock initially surged 30% before correcting by nearly 20%.
Description
Bitcoin mining firm, BTC Digital (BTCT), has moved $1 million of company cash into ether (ETH), which it called its new “digital gold.” BTCT Moved $1M Into Ethereum Reserve, chief executive officer Siguang Peng said in a press release, adding that Ethereum has “emerged as the foundation of on-chain USD settlement and value transfer.” "By securing an initial $1 million ETH reserve today—and with plans to scale that position—we are proactively positioning ourselves for decentralized finance, stabl...
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