Bit Digital Converts Entire Treasury to Ethereum

Bit Digital, a digital asset infrastructure firm, has completed a strategic transition by converting its entire corporate treasury into Ethereum (ETH). This move positions the company as one of the largest publicly traded holders of ETH globally, reportedly second only to Coinbase.

The decision to shift comes amidst a growing trend among institutional players to diversify their cryptocurrency exposure beyond Bitcoin (BTC). Bit Digital sold approximately 280 BTC and raised $172 million through a public offering, with the total proceeds channeled into acquiring ETH. As of July 7, 2025, Bit Digital holds approximately 100,603 ETH, a significant increase from the 24,434 ETH recorded in its Q1 2025 financials.

Sam Tabar, CEO of Bit Digital, described the move as "not just an asset allocation decision - it's a bet on the future of programmable finance." He added that "Ethereum offers yields through staking, unlocks decentralized infrastructure, and presents the potential to rewrite the financial system as we know it."

This shift marks a departure from the company's previous Bitcoin mining focus towards an Ethereum-native model centered on proof-of-stake validation, decentralized finance (DeFi) engagement, and staking yields, aiming to generate recurring revenue from staking rewards.

Following the announcement, Bit Digital's stock reportedly surged between 18% and 30%. Industry analysts suggest this move could signal a broader trend of corporate treasuries seeking more dynamic, utility-driven digital assets.