Bit Digital has officially pivoted to a fully Ethereum-based treasury strategy, dumping its remaining Bitcoin holdings in favor of the world’s second-largest cryptocurrency.

According to a press release on July 7, the Nasdaq-listed company has sold about 280 Bitcoin Bitcoin

btc

-0.24%

Bitcoin and now has about 100,603 Ethereum Ethereum

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0.86%

Ethereum, making it one of the biggest institutional Ethereum holders in the world.

The strategic pivot follows Bit Digital’s $172 million public offering in June, the proceeds of which were used exclusively to purchase Ethereum. The company already held 24,434 ETH as of March 31, 2025. With its recent acquisitions, it has now quadrupled its ETH reserves.

Chief executive officer Sam Tabar framed the move as a long-term bet on Ethereum’s ability to reshape finance. “Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets,” Tabar said. “We are starting with exposure to over 100K ETH for now but we intend to aggressively add more so we become the preeminent ETH holding company in the world.”