Another Public Company Treasury Pivots to Ethereum With $172M Raise
2025-07-08 04:56:07
Main Idea
Bit Digital raised $172 million from Bitcoin sales and acquired over 100,000 ETH, positioning itself as a major corporate Ethereum treasury firm, citing Ethereum's long-term potential.
Key Points
1. Bit Digital raised $172 million from BTC sales and converted its balance sheet to Ethereum, accumulating over 100,000 ETH.
2. The firm now holds approximately 100,603 ETH, worth around $254 million at current prices.
3. Bit Digital CEO Sam Tabar stated Ethereum's programmable nature, adoption, and staking yield model represent the future of digital assets.
4. The company aims to aggressively increase its ETH holdings to become the preeminent ETH holding company.
5. Bit Digital joins other firms like SharpLink and Bitmine in adopting Ethereum treasury strategies.
Description
Bit Digital has gone all-in on Ethereum after offloading all of its Bitcoin to buy ETH. The Nasdaq-listed company raised $172 million from its BTC sales and acquired over 100,000 ETH, becoming the latest corporate Ethereum treasury firm. “Following a $172 million public equity raise and conversion of its balance sheet from Bitcoin to Ethereum, Bit Digital has accumulated over 100K ETH to become one of the largest corporate treasury companies in the world,” the firm stated on July 7. Ethereum Tre...
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