14 recorded changes
Want your article here?
Promote with Leviathan NewsBit Digital, a Nasdaq-listed digital asset platform, has completed a major strategic shift to become an Ethereum-focused treasury and staking company, converting its remaining Bitcoin holdings into Ether and raising new capital to expand its ETH position. In a July 7, 2025 press release, the company announced that it closed an underwritten public equity offering that raised approximately $172 million in gross proceeds, which it deployed to purchase additional ETH. Alongside this raise, Bit Digital sold roughly 280 BTC and used the proceeds to acquire more Ether, fully exiting its prior Bitcoin balance sheet exposure in line with a transition first outlined in June 2025. As of the announcement, Bit Digital reported holding approximately 100,603 ETH, up from 24,434 ETH as of March 31, 2025, positioning it as one of the largest corporate Ethereum treasuries among public companies. The firm, which began building its ETH position and staking infrastructure in 2022, now describes itself as a pure-play Ethereum treasury and staking platform, operating institutional-grade validator infrastructure and aiming to expand its ETH holdings further over time. This move underscores a broader strategic bet on Ethereum’s long‑term role in onchain yield and infrastructure, marking a complete exit from Bitcoin mining and a reallocation of capital toward Ethereum-native yield generation and treasury management.
AI-generated background, compiled from web sources — not editorial content.
𝕏/@CoinDesk ·
sec.gov ·
strategicethreserve.xyz ·
The Block ·
The Block ·
The Block ·
𝕏/@CoinDesk ·
sec.gov ·
strategicethreserve.xyz ·
The Block ·
The Block ·
The Block ·
🚀 Love DeFi? Ready to dive in and start earning $SQUID while making an impact?