Bit Digital Buys 100K ETH in Treasury Shift, Stock Jumps 29%
Key Takeaway: Bit Digital has made a bold move by completely shifting its treasury strategy from Bitcoin to Ethereum, reflecting strong conviction that Ethereum will “rewrite the entire financial system” and positioning the company to become the leading focused Ethereum treasury platform in public markets.
Bit Digital is now officially the second-largest publicly traded ETH holder, behind only Coinbase, according to the latest data.
In a major announcement, the digital asset mining and infrastructure company revealed that it has restructured its corporate treasury to focus on Ether (ETH), rather than Bitcoin. The company emphasized that this decision was based on its belief in Ethereum’s long-term role as the foundation of future financial infrastructure.
Bit Digital used $172 million in proceeds from a recent public offering, alongside capital from the sale of 280 BTC, to acquire its ETH position, the company confirmed on Monday.
As of the end of Q1, Bit Digital held 24,434 ETH. Following its strategic realignment, that figure has surged to 100,603 ETH, dramatically increasing its exposure to Ethereum. This bold shift sparked immediate investor interest, with Bit Digital’s stock (NASDAQ: BTBT) jumping more than 29%, pushing the company’s market capitalization back above $1 billion.
This move places Bit Digital firmly in second place among corporate ETH holders, trailing only Coinbase Global, based on rankings from CoinGecko.
The company originally disclosed its public offering and Ethereum strategy pivot on June 27, but it has actually been accumulating and staking ETH since 2022—a long-term positioning strategy now being brought into sharper focus.
In an official statement, Bit Digital CEO Sam Tabar outlined the company’s strategic outlook, emphasizing its firm belief in Ethereum’s future role in global finance:
“We are aligning Bit Digital with Ethereum’s long-term potential and aiming to establish ourselves as the leading Ethereum-focused treasury platform among publicly traded companies. Our goal is to become the world’s foremost corporate holder of ETH.”
Crypto treasury strategies gain traction
In 2025, corporate treasury strategies involving digital assets have continued to gain traction, particularly among tech-forward and blockchain-aligned companies. So far, most of the attention has focused on Bitcoin as the dominant asset of choice.
Over the past month alone, at least 21 companies have added BTC to their balance sheets, according to industry data. The largest and most aggressive of these remains MicroStrategy (MSTR), which now holds an astonishing 597,323 BTC—cementing its role as the most influential corporate Bitcoin holder globally.
However, some market analysts are starting to express concerns about the overuse of Bitcoin-centric treasury models, especially by firms that lack a strong core business or a clearly defined crypto risk management framework. The fear is that some companies may be chasing headlines rather than building sustainable strategies.
Caption: Ethereum positioning as digital finance infrastructure Source: bankless
While Bitcoin has long dominated corporate treasury strategies, crypto-focused approaches beyond BTC are still relatively uncommon. However, that landscape may be starting to shift. According to Bloomberg, a newly launched company is reportedly aiming to raise $100 million to accumulate BNB (Binance Coin)—a move that echoes MicroStrategy’s Bitcoin play, but with a focus on another major layer-one blockchain asset.
When it comes to Ethereum, institutional adoption has historically trailed behind Bitcoin, especially in areas like treasury management and ETF participation. But that gap is beginning to narrow. In fact, U.S.-based Ether ETFs have recorded seven straight weeks of net inflows, signaling a growing appetite among institutions to gain long-term exposure to ETH.
Against this backdrop, Bit Digital’s pivot to Ethereum represents a significant turning point in how public companies view crypto as part of their financial strategy. As the first major firm to fully transition its treasury from Bitcoin to Ether, Bit Digital could be laying the groundwork for a broader trend—where digital assets like Ethereum are seen not just as speculative investments, but as core infrastructure for future financial systems.
