(“Bit Digital” or the “Company”), today announced the completion of its transition to an Ethereum treasury strategy. Following the close of its recent underwritten public offering, the Company raised approximately $172 million in gross proceeds and has deployed the net capital to purchase Ethereum (“ETH”). Additionally, Bit Digital sold approximately 280 BTC and used the proceeds to purchase additional ETH.
Prior to the offering, Bit Digital held 24,434 ETH as of March 31, 2025. Following the additional ETH acquisitions funded by the net proceeds of the public offerings and the sale of its bitcoin position, the Company has accumulated approximately 100,603 ETH.
“We believe Ethereum has the ability to rewrite the entire financial system. Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets,” said Sam Tabar, Chief Executive Officer of Bit Digital. “Bit Digital is aligning itself with Ethereum’s long-term potential and positioning itself as a focused Ethereum treasury platform in the public markets. We are starting with exposure to over 100K ETH for now but we intend to aggressively add more so we become the preeminent ETH holding company in the world.”
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