Bit Digital, a company cited in Nasdaq, previously dedicated to Bitcoin mining, has completed a 100% corporate finance ministry conversion in Ether (ETH), Ethereum’s native cryptocurrency.
The company raised $172 million in a signed offer and allocated net profits to the ETH acquisition. On top of that, He sold 280 Bitcoin (BTC) and added more ether holdings.
After these operations, BIT Digital has accumulated 100,603 ETH, valued at $253 million.
This strategic movement has influenced the market, Advertise $1.5 shares for $3.8 3 months ago153% rises. The stock price is currently stable at $3.4.
“We’ve been working hard to get the most out of our business,” said Sam Tabar, executive director of Bit Digital. “We believe Ethereum has the ability to rewrite the entire financial system. Its programmable nature, its growth adoption, and performance performance model represent the future of digital assets.” With this approach, the company is looking to establish itself as the largest owner of ETH worldwide.
To achieve that means BIT Digital is above Sharplink’s 198,167 ETH, earning at least 97,564 ETH ($240 million at its current price). This positions the company as a reference for Ethereum’s corporate recruitment, highlighting confidence in the network as a pillar of finance. To achieve this, the company must: You will need to issue corporate debt and make new funding rounds to raise capital.
Last June, Cryptootics reported on the institutional adoption of Ether through BIT Digital. Closing Bitcoin mining operations and corporate debt emissions Funding more ETH purchases.
This trend is consistent with a wider movement. Over 1.2 million ETH are in the hands of institutions.
Other companies, such as Sharplink Gaming and BTCS Inc., are also attracted to the additional income provided by Stking and are issuing debts to acquire ETH. This mechanism allows companies to fund their investments without relying solely on operational revenue.
