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BTBT has completed its transition to an Ethereum treasury strategy following a $172 million public offering, the company announced on Monday.

The digital asset platform used the net proceeds from the offering to purchase Ethereum and sold about 280 Bitcoin to acquire more ETH. The company now holds approximately 100,603 ETH, compared to 24,434 ETH as of March 31, 2025.

Sam Tabar, CEO of BTBT, stated: "We believe that Ethereum has the potential to rewrite the entire financial system. BTBT is aligning itself with Ethereum's long-term potential and positioning itself as a specialized Ethereum treasury platform in public markets."

Tabar explained that the company intends to add more Ethereum holdings to become what he described as "the leading ETH holding company in the world."

BTBT manages infrastructure for storing Ethereum and began aggregating and storing ETH in 2022. The company’s platform includes authentication operations, custody services, protocol governance, and yield optimization.

The information is based on a press release from BTBT.

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