Bit Digital Buys 100,603 ETH, Shares Soar 29% on Pivot

- Bit Digital pivots its corporate treasury from Bitcoin to Ethereum, acquiring 100,603 ETH. - The company’s stock (BTBT) surged 29%, pushing its market capitalization above $1 billion. On July 7, 2025, media outlets including Cointelegraph, Investing.com, and The Block reported that the publicly traded digital asset company Bit Digital announced a significant change to its corporate treasury strategy. The company shifted its focus from Bitcoin to Ethereum, acquiring 100,603 ETH using proceeds from a recent $172 million public offering and the sale of 280 Bitcoin. This move makes Bit Digital the second-largest publicly traded corporate holder of Ethereum, following Coinbase. Following the announcement, Bit Digital’s stock (BTBT) surged a remarkable 29%, propelling its market capitalization back above the $1 billion mark. In a statement on July 7, CEO Sam Tabar explained the rationale for the transition, citing Ethereum's potential to "rewrite the entire financial system" and affirming the company’s ambition to become "the most preeminent ETH holding company in the world." Bit Digital has steadily accumulated Ethereum since 2022 and also stakes the cryptocurrency. This strategic pivot aligns with the growing corporate trend of adopting cryptocurrency for treasury strategies; however, to date, most of these initiatives have centered on Bitcoin. According to CoinMarketCap on July 7, at 21:09 UTC, Ethereum (ETH) traded at $2,536.62, while its 24-hour trading volume had declined by 0.48%.