Nasdaq-listed Bit Digital has ditched Bitcoin entirely to embrace Ethereum as its new core treasury asset.
The company has not only sold off its remaining BTC reserves but has also made a massive leap in ETH accumulation, signaling a strategic pivot toward what it sees as the future of programmable finance.
According to a recent announcement, Bit Digital sold 280 BTC and redirected all proceeds into Ethereum. That alone would have marked a significant shift—but the company also raised $172 million through a public offering, using the entire sum to bolster its ETH position. Its total Ethereum holdings now exceed 100,000 ETH, a jump from just over 24,000—a move that has made Bit Digital one of the largest corporate ETH holders overnight.
The firm cited Ethereum’s flexibility, staking capabilities, and role in reshaping financial infrastructure as key reasons behind the switch. With its new direction, Bit Digital is rebranding itself as a dedicated Ethereum treasury entity within the public market landscape.
Investors responded quickly to the announcement. The company’s shares jumped nearly 20% in a single session, pushing weekly gains above 60%. The dramatic shift also places Bit Digital in direct competition with SharpLink Gaming, another publicly traded firm aggressively building an Ethereum treasury.
This pivot is part of a broader trend that’s starting to reshape how corporations approach digital asset strategies. Traditional Bitcoin-focused firms like BitMine are following suit, with BitMine raising $250 million to build its own ETH reserve and bringing in Tom Lee to chair its board. Ethereum co-founder Joseph Lubin recently commented on the movement, predicting a wave of DeFi integration on Wall Street fueled by such corporate shifts.
While Ethereum adoption in the treasury space is accelerating, market volatility persists. ETH prices have seen a slight decline, possibly linked to concerns over a recent transfer of Ethereum to Coinbase by a U.S. government wallet.
Still, the timing of Bit Digital’s pivot is bold—and may prove pivotal—as companies increasingly look beyond Bitcoin for blockchain-native financial infrastructure.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is passionate about questions of meaning. He is a fluent German speaker as well as He has been in the crypto space for more than three years and has an eye for spotting emerging trends in the world of digital currencies. Whether providing in-depth analysis or reporting on all topics on a daily basis, his deep understanding and enthusiasm for what he does makes him a valuable addition to the team.
Source: https://coindoo.com/ethereum-replaces-bitcoin-in-nasdaq-listed-bit-digitals-treasury-strategy/