BTC Digital ditches Bitcoin for Ethereum in ‘transformative’ shift
2025-07-18 03:24:48
Main Idea
BTC Digital is shifting its focus from Bitcoin to Ethereum, aiming to accumulate tens of millions in ETH reserves by year-end and generate returns through staking, DeFi, and other Ethereum-based initiatives.
Key Points
1. BTC Digital, listed as BTCT on Nasdaq, announced a strategic shift to make Ethereum its core asset and operational foundation.
2. The firm plans to accumulate tens of millions of dollars in ETH reserves by the end of the year.
3. Key initiatives include ETH-backed yield pools, stablecoin infrastructure, and expanding partnerships in the Ethereum ecosystem (DeFi, NFTs, layer-2 solutions).
4. Ether prices recently hit a six-month high of $3,600, up 40% amid growing institutional interest.
5. Other firms like SharpLink, BitMine, Bit Digital, and Blockchain Technology Consensus Solutions have also announced Ethereum treasuries, collectively holding around 714,000 ETH ($2.4 billion).
Description
The mining firm has raised $6 million and is set to dump Bitcoin in favor of Ethereum, targeting tens of millions in ETH reserves by year-end.
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