- Bit Digital sold all its Bitcoin, raising $172M and acquiring over 100,000 ETH to become a major corporate ETH treasury holder.
- CEO Sam Tabar said Ethereum’s architecture and staking model represent the future of finance—and Bit Digital plans to keep buying.
- ETH price didn’t respond to the news, falling 2% on the day amid broader market weakness and fresh tariff drama from Trump.
Bit Digital just made a bold move. The Nasdaq-listed firm unloaded all its Bitcoin—yep, all of it—and used the proceeds to snag over 100,000 ETH. That’s around $254 million worth at today’s prices, and it officially puts them in the big leagues of corporate Ethereum holders.
In a July 7 update, the company confirmed it had raised $172 million through a public equity offering, then converted its entire treasury from BTC to ETH. “We’ve crossed 100K ETH and counting,” the team said. That’s a big bet on Ethereum, and not everyone saw it coming.
Betting It All on Ethereum’s Future
Before this pivot, Bit Digital was already holding 24,434 ETH as of March 31. But with fresh funds from the raise—and by selling off every last BTC on its books—they boosted their total stack to 100,603 ETH. That puts them right up there with some of the largest public ETH holders around.
CEO Sam Tabar wasn’t shy about the company’s vision. “Ethereum isn’t just a digital asset—it’s the rails of the next financial system,” he said. Tabar called ETH’s programmable architecture and staking model “the future,” and made it clear this wasn’t just a one-off move.
“We’re starting with 100K ETH, but we’re not stopping there,” he added. “We want to be the Ethereum treasury company in public markets.” That’s not subtle. It’s a declaration.
ETH Treasury Trend? It’s Heating Up
Bit Digital’s not alone in jumping on this ETH-first thesis. SharpLink—the gaming startup tied to Joe Lubin—and Tom Lee’s Bitmine also recently threw down, launching a massive $250M ETH treasury. Former ETH developer Eric Conner chimed in, saying, “Tom Lee lit the fuse, Lubin showed the playbook, and Bit Digital just proved scale.”
In short? This isn’t just a theory anymore. Big players are actually doing it.
Market Reaction… or Lack of It
Funny enough, Ethereum’s price didn’t flinch—well, it dipped actually. ETH dropped 2% on the day, sliding to around $2,528 at last check. The coin couldn’t push through $2,600 resistance last week and now seems stuck in the same sideways chop it’s been in for, what, two months now?
The broader market’s bleeding too, with Trump’s trade tariff chatter probably not helping things.
So, even as institutions pile into ETH, the market remains… indifferent. For now.
