Bit Digital Expands Ethereum Holdings to Approximately 120,000 ETH

Bit Digital, Inc. (Nasdaq: BTBT) has increased its Ethereum holdings to approximately 120,000 ETH, positioning itself among the largest institutional Ethereum holders in the public markets. This expansion follows the company's recent $67.3 million registered direct offering, the proceeds of which were utilized to acquire additional Ethereum. CEO Sam Tabar emphasized Ethereum's role in the next phase of digital financial infrastructure, highlighting its programmable nature and growing adoption. Bit Digital continues to stake the majority of its ETH holdings and operate validators, contributing to the security and performance of the Ethereum network. The company's stock, BTBT, is currently trading at $3.84, reflecting the volatility inherent in the crypto market. This strategic move underscores Bit Digital's commitment to the digital asset space and its confidence in Ethereum's future potential.