#BitDigital转型 Nasdaq-listed Bit Digital (BTBT) has recently made a big move, directly transforming its business.

Previously, it was focused on Bitcoin mining, but now it has decided to gradually shut down its mining operations and exchange its Bitcoin for Ethereum, aiming to become a pure Ethereum staking and treasury management company. As of March this year, it holds 24,434 ETH (approximately worth $44.6 million) and 418 BTC (about $34.5 million), with plans to convert all of these BTC into ETH.

Why is it doing this? It turns out that the returns from Bitcoin mining have been decreasing, with a year-on-year decline of 17.38% in the first quarter of 2025. In contrast, Ethereum staking offers stable returns and shows a trend of price increase, which is clearly more appealing. Moreover, by transitioning to a light asset model, shifting from a heavy asset mining company to a finance-oriented light asset operation, and spinning off its subsidiary WhiteFiber to focus on core business, they are making a very strategic move! One can only say, as expected from a large company, their decisions are decisive, and we look forward to their performance after the transformation! $ETH