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Nasdaq-Listed Company Makes Controversial Move: Dumps All Its Bitcoin, Replaces It with Ethereum
Bit Digital, a cryptocurrency mining and digital asset services provider, has made a remarkable move by switching its entire treasury strategy to Ethereum.$ETH
In addition to the approximately $172 million in proceeds from the IPO, the company sold approximately $28 million worth of Bitcoin (BTC) and purchased a total of $192.9 million worth of Ethereum (ETH). With these purchases, Bit Digital’s ETH $ETH
holdings reached $254.8 million.
According to the company's press release, Bit Digital held 24,434 ETH as of March 31, 2025. After the proceeds from the IPO and the BTC sale, this amount was increased to 100,603 ETH. With this development, Bit Digital has one of the largest Ethereum portfolios among publicly traded companies.
#Nessdeq #bitdigit
In addition to the approximately $172 million in proceeds from the IPO, the company sold approximately $28 million worth of Bitcoin (BTC) and purchased a total of $192.9 million worth of Ethereum (ETH). With these purchases, Bit Digital’s ETH $ETH
holdings reached $254.8 million.
According to the company's press release, Bit Digital held 24,434 ETH as of March 31, 2025. After the proceeds from the IPO and the BTC sale, this amount was increased to 100,603 ETH. With this development, Bit Digital has one of the largest Ethereum portfolios among publicly traded companies.
#Nessdeq #bitdigit
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