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Bit Digital Adds Nearly 20K ETH, Boosting Ether Treasury to Over $430M
The company recently exited its bitcoin mining business to focus on ether treasury operations.
Jul 18, 2025, 3:54 p.m.
What to know:
- Bit Digital bought 19,683 ETH using funds from a $67.3 million direct offering to institutional investors.
- The company's total ETH holdings now exceed 120,000, valued at approximately $432 million.
- Bit Digital's stock initially rose by 10% on the news, and later traded 2.5% lower.
Bit Digital (BTBT), a Nasdaq-listed crypto company that recently pivoted to a treasury strategy centered around ether , said on Friday it bought 19,683 ETH using funds from a $67.3 million direct offering.
The purchase takes the firm's holdings to more than 120,000 ETH, worth around $432 million at current prices.
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The company's stock initially spiked as much as 10% on the news before paring early gains. Recently, it traded 2.5% lower.
Bit Digital is one of the many firms that recently pivoted to a crypto treasury strategy. The company last month announced its exit from bitcoin mining to focus solely on ether staking and treasury operations.
Read more: Ethereum's Biggest Wall Street Bull Ups Stock Sale to $6B to Power ETH Treasury
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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