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Bit Digital completes its "full Ethereum" strategic transformation, converting all 280 Bitcoin reserves and $172 million in funds to ETH
New York-listed mining company Bit Digital has recently taken a series of significant steps, converting all 280 Bitcoin (BTC) it held into Ethereum (ETH), while also investing all $172 million raised through stock sales into ETH.
This move increased the company's total ETH holdings from 24,434 coins on March 31 to 100,603 coins (approximately $255 million), marking the official completion of the company's three-month-long "full Ethereum" strategic transformation.
Bit Digital's CEO Sam Tabar stated in an announcement on July 7 that Ethereum's programmable features, the continuously growing ecosystem applications, and the staking yield mechanism are reshaping the infrastructure of the financial system.
Compared to idle Bitcoin, ETH offers superior value storage potential. The company also plans to continue increasing its ETH holdings and is committed to becoming a leading investment tool focused on Ethereum in the public market.
This transformation reflects the changing commercial model of mining companies. After Bitcoin experienced a block reward halving, traditional miners faced the challenge of compressed profits. By shifting to a proof-of-stake mechanism, Bit Digital expects to achieve an annualized staking yield of about 4%, avoiding the high energy costs of hash rate procurement and transforming static assets into a "self-financing engine" that can continuously generate cash flow.
Ethereum developer Eric Conner pointed out on social media platform X that the company's ETH holdings surged fourfold within a quarter, reflecting the listed company's demand for Ethereum, which has exceeded the network's monthly issuance of about 112,000 coins.
It is worth noting that Bit Digital is not an isolated case. This strategic adjustment resonates with recent financial moves by other listed companies like SharpLink, indicating institutional investors' preference for Ethereum's staking economic model.
Overall, Bit Digital aims to build a new financial system that integrates capital appreciation, revenue generation, and operational funding replenishment by connecting most of its ETH holdings to existing validator node infrastructure, providing a financial planning reference model for other traditional mining companies' transformations.
#资产配置 #加密货币 #策略转型
New York-listed mining company Bit Digital has recently taken a series of significant steps, converting all 280 Bitcoin (BTC) it held into Ethereum (ETH), while also investing all $172 million raised through stock sales into ETH.
This move increased the company's total ETH holdings from 24,434 coins on March 31 to 100,603 coins (approximately $255 million), marking the official completion of the company's three-month-long "full Ethereum" strategic transformation.
Bit Digital's CEO Sam Tabar stated in an announcement on July 7 that Ethereum's programmable features, the continuously growing ecosystem applications, and the staking yield mechanism are reshaping the infrastructure of the financial system.
Compared to idle Bitcoin, ETH offers superior value storage potential. The company also plans to continue increasing its ETH holdings and is committed to becoming a leading investment tool focused on Ethereum in the public market.
This transformation reflects the changing commercial model of mining companies. After Bitcoin experienced a block reward halving, traditional miners faced the challenge of compressed profits. By shifting to a proof-of-stake mechanism, Bit Digital expects to achieve an annualized staking yield of about 4%, avoiding the high energy costs of hash rate procurement and transforming static assets into a "self-financing engine" that can continuously generate cash flow.
Ethereum developer Eric Conner pointed out on social media platform X that the company's ETH holdings surged fourfold within a quarter, reflecting the listed company's demand for Ethereum, which has exceeded the network's monthly issuance of about 112,000 coins.
It is worth noting that Bit Digital is not an isolated case. This strategic adjustment resonates with recent financial moves by other listed companies like SharpLink, indicating institutional investors' preference for Ethereum's staking economic model.
Overall, Bit Digital aims to build a new financial system that integrates capital appreciation, revenue generation, and operational funding replenishment by connecting most of its ETH holdings to existing validator node infrastructure, providing a financial planning reference model for other traditional mining companies' transformations.
#资产配置 #加密货币 #策略转型
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