Bit Digital Ethereum Treasury Soars to $675M, Cementing Spot as Top 6 Holder
Bit Digital’s Ethereum holdings have surged to roughly $675 million, securing its place among the many high six institutional Ethereum treasuries globally.
The Nasdaq-listed crypto infrastructure agency announced that it bought an extra 31,057 ETH utilizing proceeds from a just lately accomplished $150 million convertible notes providing.
Bit Digital Grows Ethereum Treasury 50% as Firm Reinvents Itself as ETH Staking Company
Following the transaction, Bit Digital now holds roughly 150,244 ETH. The buy marks the newest step within the firm’s ongoing pivot from Bitcoin mining to a full-fledged Ethereum-focused operation.
The agency mentioned the deal was structured to broaden its ETH treasury in a cheap means, whereas boosting web asset worth (NAV) per share.
The convertible notes had been priced at $4.16 per share, representing an 8.2% premium to Bit Digital’s estimated mark-to-market NAV of $3.84 on the time of pricing.
According to the corporate, a number of main crypto-focused buyers, together with Kraken Financial, Jump Trading Credit, and Jane Street Capital, participated within the providing.
Chief Executive Officer Sam Tabar mentioned the transaction displays the corporate’s dedication to long-term worth creation.
“This buy demonstrates our dedication to constructing shareholder worth by financing ETH accumulation on phrases which are accretive to NAV per share,” Tabar mentioned.
He added that Bit Digital views Ethereum as “foundational to digital monetary infrastructure” and considers present costs a compelling long-term entry level.
The newest acquisition follows a collection of fundraising rounds aimed toward rising the corporate’s Ethereum place. In July, Bit Digital raised $67.3 million by a direct providing of twenty-two million extraordinary shares priced at $3.06 every.
The providing, managed by B. Riley Securities, was additionally devoted to ETH purchases. Earlier that month, the agency completed a $163 million equity raise, additional reinforcing its technique to grow to be a “pure play” Ethereum staking and treasury firm.
Bit Digital’s shift towards Ethereum (*6*). The firm started accumulating ETH and constructing staking infrastructure in 2022.
By early July, it held round 100,603 ETH valued at $301 million. After a number of funding rounds and conversions from Bitcoin, its treasury has since grown by almost 50%.
The firm’s newest monetary filings present a sharp drop in Bitcoin-related revenue, down 64% year-over-year within the first quarter of 2025, as it phases out mining operations.
Bit Digital now generates earnings by validator operations, custody options, and yield optimization, with a majority stake in AI-focused agency WhiteFiber contributing to its broader digital asset portfolio.
According to data from on-chain monitoring agency SΞR Entities, Bit Digital now ranks among the many six largest Ethereum holders globally, with over 150,000 ETH, inserting it behind entities such as Bitmine Immersion Tech and SharpLink Gaming.
Corporate Ethereum Treasuries Surge as Spot ETFs Draw Strong Inflows
October is looking to become another strong month for Ethereum investment vehicles, with U.S.-listed spot Ether ETFs recording $621.4 million in web inflows, greater than double September’s $285.7 million, in accordance to SoSoValue information.
Although under August’s report $3.9 billion, the figures level to sustained institutional demand for Ethereum publicity.
Among company holders, SharpLink Gaming has emerged as some of the aggressive accumulators. The Nasdaq-listed agency disclosed it now holds 839,000 ETH with no debt on its stability sheet.
Launched in June, its Ethereum treasury technique has generated over $900 million in unrealized beneficial properties, whereas the corporate has doubled its ETH focus over 4 months.
SharpLink additionally plans to tokenize its frequent inventory (SBET) on Ethereum and stake a part of its holdings on Linea, a Layer 2 community developed by Consensys.
Bitmine continues to dominate the company ETH panorama. In September, the firm purchased $69 million worth of ETH through Galaxy Digital, elevating its complete holdings to round 1.95 million ETH valued at $8.66 billion,almost 2% of Ethereum’s circulating provide.
Blockchain information confirmed Galaxy settling 15,427 ETH to Bitmine in coordinated transfers following earlier large-scale acquisitions totaling greater than $559 million that month.
Other main gamers are additionally increasing publicity. Ether Machine added 150,000 ETH in August, bringing complete holdings to 495,362 ETH value roughly $2.16 billion.
The firm has since filed a draft registration assertion with the U.S. SEC for a merger with Nasdaq-listed SPAC Dynamix Corporation, anticipated to shut within the fourth quarter pending shareholder approval.
Ethereum (ETH) final traded round $4,504, up 5.2% over the previous week however nonetheless 8.9% under its all-time high of $4,946.
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