Bit Digital Ditches Bitcoin for Ethereum in a Massive Treasury Overhaul

From Bitcoin Mining to Ethereum Staking: A Bold New Strategy

Hold onto your hats, crypto fans! Bit Digital just pulled off a jaw-dropping pivot, dumping all its remaining Bitcoin to go all-in on Ethereum. That's right, the Nasdaq-listed powerhouse has sold off about 280 BTC and is now sitting pretty with a whopping 100,603 ETH, making it one of the biggest institutional Ethereum whales out there.

What's behind this epic shift? Well, it all started with Bit Digital's $172 million public offering back in June. They took that cash and went on an Ethereum buying spree. And get this—they already had 24,434 ETH as of March 31, 2025, but now they've quadrupled their stash with these latest moves.

CEO Sam Tabar isn't holding back on why they're betting big on Ethereum. "Ethereum's programmable nature, growing adoption, and staking yield model represent the future of digital assets," he declared. And he's not stopping there. "We're starting with over 100K ETH, but we're gonna keep adding more until we're the top ETH holding company in the world!"

This isn't just a shift—it's a total transformation. Bit Digital is saying goodbye to its old Bitcoin mining days and embracing Ethereum's proof-of-stake model. No more endless mining costs and selling pressure. Now, they're all about generating sweet staking yields.

And they've been gearing up for this. Since 2022, Bit Digital has been building out its Ethereum staking infrastructure. They've got one of the biggest validator networks out there, complete with top-notch custody and active governance. With over $300 million in ETH and plans to scale even further, Bit Digital is putting its money where its mouth is.

But they're not alone in this Ethereum love fest. Other publicly traded companies like BioNexus Gene Lab and SharpLink are also going all-in on Ethereum for their treasuries. Together, they're part of the Strategic ETH Reserve, keeping tabs on over 1.2 million ETH held by corporate treasuries.

Sure, Bitcoin is still the king of crypto treasuries, but Ethereum is hot on its heels. With its role in DeFi, deflationary design, and those juicy staking rewards of 3 to 5% a year, Ethereum is the new kid on the block that everyone's watching.