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Key Takeaways
- Bit Digital, listed on NASDAQ, increased its Ethereum holdings to a total of $673 million by acquiring 31,057 ETH.
- The company has shifted its business model from Bitcoin mining to a focus solely on Ethereum staking and treasury operations.
Bit Digital, a NASDAQ-listed company focused on Ethereum staking and treasury operations, increased its Ethereum holdings to $673 million by adding 31,057 ETH.
The company recently transitioned into a pure-play Ethereum staking and treasury firm by converting its Bitcoin holdings and winding down mining operations. Bit Digital has expanded its focus on Ethereum by staking a significant portion of its holdings to generate yields.
The move aligns with growing institutional adoption of Ethereum for corporate treasuries. Companies are increasingly using blockchain assets for passive income strategies, with Ethereum seeing heightened corporate treasury adoption amid a rotation toward staking-focused assets.
Bit Digital’s treasury strategy now emphasizes Ethereum staking as a core operation, positioning the firm as an Ethereum-centric entity to capitalize on network rewards.