Bit Digital Shifts Focus: Exits Bitcoin Mining for $44M Ethereum Staking
Bit Digital Transitions to Focus on ethereum Staking and Treasury Operations
Strategic Shift Announced
NEW YORK, June 25, 2025 – Bit Digital, Inc. (Nasdaq: BTBT) has revealed its plan to pivot towards becoming a dedicated ethereum (“ETH”) staking and treasury firm. The company has been building its ETH holdings and staking infrastructure since 2022, progressively increasing its assets in this area.
Current Holdings and Future Plans
As of March 31, 2025, Bit Digital reported ownership of 24,434.2 ETH and 417.6 BTC, with a combined value of approximately $44.6 million and $34.5 million, respectively. The company aims to gradually convert its Bitcoin holdings into ethereum.
Strategic Alternatives for Bitcoin Mining
In light of this transition, Bit Digital has initiated a process to explore strategic alternatives for its Bitcoin mining operations. This could lead to either the sale or closure of these operations, with any resulting funds being reinvested into ethereum.
About Bit Digital
Bit Digital operates as a publicly listed digital asset platform that specializes in ethereum-focused treasury and staking strategies. For more information, interested parties can reach out via email at [email protected] or connect with the company on LinkedIn or X.
Forward-Looking Statements
This announcement may include “forward-looking statements” regarding Bit Digital, Inc. and its subsidiaries. These statements often use terms like “believes,” “anticipates,” or similar phrases, indicating known and unknown risks and uncertainties. While the company considers these expectations to be reasonable, they are subject to various factors that could lead to actual results differing significantly from those anticipated. Investors are advised to exercise caution and not overly rely on these forward-looking statements, which reflect the situation as of the date of this announcement. For more details, please refer to the company’s periodic filings with the Securities and Exchange Commission, available at http://www.sec.gov. The company does not commit to updating these statements unless required by law.
Additional Information
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SOURCE: Bit Digital, Inc.
