Bit Digital drops Bitcoin to join the Ethereum treasury bandwagon

Key Takeaways

• Bit Digital swapped 280 BTC alongside $172M ETH to extend its treasury reserves to over 100K ETH. This, after the agency’s CEO claimed that Ethereum would rewrite the monetary system.

Bit Digital has dumped its whole 280 Bitcoin [BTC] reserve and gone all in on Ethereum [ETH]. 

In a statement on 7 July, the agency stated it raised $172 million and bumped up its ETH treasury to 100,603 ETH. Throughout a latest CNBC interview, the agency’s CEO Samir Tabar stated, 

“We exited a worthwhile BTC mining enterprise and offered all of the BTC and poured all of it into Ethereum. We’re simply getting began.”

When requested in regards to the motivation behind the swap, Tabar added that Ethereum has “the power to rewrite your entire monetary system.” He went on to say, 

“Ethereum is the one blue-chip institutional blockchain that may tokenize the world’s conventional real-world belongings. There isn’t a second finest.”

ETH treasury heats up

Earlier than dumping its BTC and the capital increase, Bit Digital had solely 24,434 ETH as of Q1 2025. Merely put, they’ve acquired almost 80k of the crypto over the previous three months. 

The agency is now the second Bitcoin mining-focused agency to leap onto the ETH treasury bandwagon.

On 30 June, BitMine Immersion Applied sciences announced a $250M increase for its ETH treasury plan, spearheaded by Fundstrat’s CIO Tom Lee. 

Now, the full ETH stacked by public firms and Web3 entities has hit $3.3 billion. Particularly, public corporations management 313.8k ETH or 24% of the full strategic ETH reserves. 

The truth is, Bit Digital has climbed into the highest 10 ETH treasury firms checklist after its newest buy and it might quickly rival Coinbase (137.3k ETH) for the fourth place. 

Supply: SER

Following the replace, Bit Digital’s inventory, BTBT, pumped by 19% from $3.25 to $3.86. The truth is, the inventory has risen by over 80% on the restoration charts since June’s lows. 

Curiously, over the identical interval, ETH climbed by over 22% – An indication that BTBT traders had almost 4 instances extra returns than ETH holders. 

Supply: BTBT value efficiency (TradingView) 

On the time of writing, ETH was valued at $2.57k. Nonetheless, in comparison with Bitcoin, the altcoin has outperformed the world’s largest cryptocurrency by 10% within the final two weeks alone.

If the ETH/BTC ratio defends the range-lows and advances to 0.025, ETH might prolong its outperformance within the quick time period. 

Supply: ETH/BTC ratio, TradingView