Bit Digital has officially transitioned to a fully Ethereum-based treasury strategy, selling off its remaining Bitcoin in favor of the world’s second-largest cryptocurrency.
In a press release issued on July 7, the Nasdaq-listed digital asset company announced it had offloaded approximately 280 Bitcoin and now holds 100,603 ETH—positioning itself among the largest institutional Ethereum holders globally.
This strategic pivot follows Bit Digital’s $172 million public offering in June, the proceeds of which were entirely allocated to Ethereum acquisitions. As of March 31, 2025, the company already held 24,434 ETH, meaning its ETH holdings have more than quadrupled in a matter of months.
CEO Sam Tabar framed the move as a long-term conviction play on Ethereum’s potential to redefine the financial landscape. “Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets,” Tabar said. “We’re starting with exposure to over 100K ETH, but our goal is to aggressively expand and become the world’s leading ETH holding company.”
The shift also marks Bit Digital’s complete exit from its legacy Bitcoin mining operations. Ethereum’s proof-of-stake mechanism allows the company to earn yield through staking—without the high operational costs and constant sell pressure associated with traditional mining.
Bit Digital began laying the groundwork for its Ethereum staking infrastructure back in 2022. Today, it operates one of the largest validator networks in the space, backed by institutional-grade custody solutions and active participation in Ethereum governance. With over $300 million in ETH on its balance sheet and further scaling plans underway, Bit Digital is betting big on Ethereum to power its next chapter.
The company’s pivot comes amid a broader trend of institutions adopting Ethereum as a treasury asset. Other publicly traded firms like BioNexus Gene Lab and SharpLink have also embraced Ethereum-centric treasury models. Together, these companies are part of the Strategic ETH Reserve—a consortium tracking more than 1.2 million ETH held by corporations.
While Bitcoin remains the dominant cryptocurrency for corporate treasuries, Ethereum is rapidly gaining ground due to its key role in decentralized finance (DeFi), deflationary tokenomics, and attractive staking yields, typically ranging between 3% and 5% annually.
