26.06.2025 16:13

Nasdaq-listed Bit Digital has dramatically altered its business strategy, abandoning Bitcoin mining to focus solely on Ethereum staking and treasury management. This significant pivot involves the complete cessation of its Bitcoin mining operations.

The company's decision includes the liquidation of its substantial Bitcoin holdings – approximately 417.6 BTC, worth roughly $34.5 million at the time of the announcement – to acquire a considerable amount of Ethereum. This conversion will bolster Bit Digital's existing Ethereum reserves.

By March 2025, Bit Digital already possessed a significant Ethereum stockpile, holding approximately 24,434.2 ETH, valued at around $44.6 million. The proceeds from the Bitcoin sale and the disposal of mining assets will further increase this holding.

This strategic shift represents a complete realignment of Bit Digital's core business activities. The company is now fully committed to leveraging its resources for Ethereum staking and treasury functions. Information regarding sources for this article can be found on the internet.