The Ethereum Treasury has increased to 120,000 ETH by Bit Digital.

Bit Digital Converts $67.3 Million Raise Into Strategic Ethereum Play With Addition of 19,683 ETH Bit Digital Adds 19,683 Ethereum to $67.3 Million Raise to Make It a Strategic Ethereum Play
Bit Digital, Inc. (Nasdaq: BTBT) used the money from a $67.3 million registered direct offering to institutional investors to add 19,683 ETH to its balance sheet. The notice states that the transaction increases the company’s overall Ethereum holdings to about 120,306 ETH.

Bit Digital’s strategy includes active involvement in Ethereum’s ecosystem in addition to investing. The business contributes to the performance and security of the network by running validators and staking the bulk of its ETH, producing native yield.

Bit Digital CEO Sam Tabar gave the following explanation of the company’s stance on Ethereum:

We continue to be dedicated to growing our ETH holdings as part of that long-term strategy since we see Ethereum as the cornerstone of the upcoming stage of digital financial infrastructure. Bit Digital is one of the biggest institutional Ethereum treasuries in the public markets, holding about 120,000 ETH.
Ethereum is positioned by Bit Digital as infrastructure that powers tokenized assets, stablecoins, and smart contract-based platforms, rather than just as a speculative asset. By integrating Ethereum into its core treasury strategy, the firm intends to offer investors direct, regulated exposure to ETH via regular equity markets.

 

 

 

 

 

 

 

 

 

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