Bit Digital Raises $150M to Focus on Ethereum Investments – Coincu

Bit Digital has successfully raised $150 million through a public offering, significantly shifting its operational focus toward Ethereum investment and away from Bitcoin mining as of June 27, 2025.

This strategic shift reflects the company’s anticipation of Ethereum’s growing importance and potential, prompting a divergence from Bitcoin as part of a broader repositioning.

Bit Digital Secures $150M, Transitions to Ethereum Focus

Bit Digital, Inc., a publicly listed cryptocurrency mining company, has launched a public offering ([Search company filings in SEC’s EDGAR database], securing $150 million to fast-track its shift from Bitcoin mining to Ethereum-based activities. The offering included 75 million shares at $2 each and additional 11.25 million shares for underwriters, emphasizing a major reallocation of resources.

Pursuing Ethereum investments represents one of the largest public commitments to ETH, Bit Digital aims to strengthen its presence in Ethereum staking and develop validator and custody solutions. This considerable shift will result in the closure or sale of its Bitcoin assets.

“Bit Digital is transitioning from Bitcoin mining to a strategic focus on Ethereum, which reflects our commitment to innovative growth in the digital asset space.” — Sam Tabar, CEO, Bit Digital, Inc.

Market Implications and Industry Analysis

Did you know? Bit Digital’s transition to Ethereum represents one of the largest treasury shifts from Bitcoin to Ethereum by a publicly listed U.S. entity, setting a major industry precedent.

Ethereum (ETH) is priced at $2,445.89 with a market cap of $295.26 billion and market dominance of 8.98%, according to CoinMarketCap. The 24-hour trading volume is $15.84 billion, down 18.32%. ETH has decreased 1.71% in 24 hours but increased 37.18% over 60 days.

Analysts from Coincu highlight the potential for Bit Digital’s Ethereum focus to influence technological innovation and financial strategies in the crypto space. The move is seen as strategic, with expectations of heightened regulatory interest due to significant treasury reallocations.