- Bit Digital exits Bitcoin entirely, raising $172M to execute a bold Ethereum-focused strategy.
- The company quadruples its ETH holdings in one quarter, reaching 100,603 ETH worth $261 million.
- CEO Sam Tabar calls Ethereum the foundation of tomorrow’s economy and financial infrastructure.
In a bold move that’s turning heads across the crypto and finance worlds, Bit Digital, Inc. (Nasdaq: BTBT) has gone all-in on Ethereum, completely transforming its corporate treasury to hold only ETH and leaving Bitcoin behind.
According to an official report, the digital asset platform raised a substantial $172 million in a public equity offering and promptly deployed that capital. Furthermore, it sold its remaining 280 BTC and used all proceeds to buy more Ethereum.
Prior to this major shift, the company held 24,434 ETH as of March 31, 2025. Just a few months later, its holdings soared to 100,603 ETH, valued at over $261 million, based on an average price of $2,600 per ETH. This leap propels Bit Digital into the upper echelon of corporate Ethereum holders, joining and even outpacing several crypto-native investment funds.
At the heart of this strategic overhaul is CEO Sam Tabar, an Ethereum veteran with deep roots in blockchain infrastructure and asset management. Under his leadership, Bit Digital is staking a clear claim on Ethereum’s future as the foundation of decentralized finance.
“We believe Ethereum has the ability to rewrite the entire financial system,” Tabar said. Its programmable nature, broad adoption, and built-in staking yield make it more than just a digital asset—it’s infrastructure for tomorrow’s economy, he further acknowledged.
Bit Digital began accumulating ETH back in 2022, but this latest move signals full commitment. The company has now repositioned itself as a pure-play Ethereum treasury and staking platform, turning its crypto holdings into dynamic, yield-generating engines rather than idle reserves.
Corporate Demand for Ethereum Increases as Utility Expands
Bit Digital’s strategic shift can also be seen as a manifestation of a larger phenomenon occurring silently yet explosively in corporate boardrooms. An increasing number of publicly traded companies are reevaluating the traditional Bitcoin-centered playbook and seeking out Ethereum, recognizing its utility, flexibility, and earnings potential.
Other firms, such as SharpLink Gaming and BitMine Immersion, have reportedly begun considering similar ETH-focused approaches, acknowledging that Ethereum is not merely a cryptocurrency but a hub that leverages decentralized finance (DeFi), tokenization, Web3 tools, and other applications.
The transition is an evolution, as digital assets are no longer purely speculative bets. They’re becoming functional infrastructure.
Related: Bit Digital Exits Bitcoin Mining to Focus on ETH Staking
Analysts Predict Ethereum’s Treasury Growth
Eric Conner, a known Ethereum advocate and co-founder of EthHub, on X, outlined the more profound implications of Bit Digital’s move. “Translation: steady on-chain cash flow > idle digital gold,” he wrote, summarizing the advantage of Ethereum staking over Bitcoin’s passive holding model. Conner highlighted how Bit Digital’s leap, fueled by an equity raise and the sale of its 280 BTC, created a flywheel effect: more ETH held, more staking yield generated, more capital to expand the ETH treasury.
He also warned of what happens next: “If one former BTC miner can accumulate 100K ETH in a quarter, imagine what happens when bigger corporate treasuries start chasing the same 112K ETH the network issues per month.”
Conner placed the move in historical context, calling it the natural progression from ideas seeded by investment veteran Tom Lee and Ethereum co-founder Joseph Lubin. “Tom Lee lit the fuse. Lubin showed the playbook. Bit Digital just proved scale,” he wrote. “ETH-forward treasury strategies are graduating from thesis to trend.”
