#BitDigital转型 Bit Digital (BTBT) has transformed from Bitcoin mining to Ethereum staking and treasury management, launching a strategic adjustment in June 2025. Affected by high Bitcoin mining costs and declining revenues, the company sold approximately 280 BTC, raising $172 million to purchase 121,076 ETH, of which 105,015 have been staked, generating 211 ETH in the first quarter. In July, they plan to issue additional shares to raise $10 million to expand ETH investments. The low-energy consumption of Ethereum's PoS mechanism, along with annual returns of 3%-6.5% and the advantages of smart contracts, drives the transformation. In Q2 2025, revenue was $25.7 million, with a net profit of $14.9 million, and the stock price rose 8.9% for the year. The transformation may lead the industry towards a sustainable model, but it faces challenges from ETH price volatility, as well as technical and regulatory risks. (Total of 149 characters)