Bit Digital Doubles Ethereum Holdings to $675 Million

U.S.-listed firm Bit Digital significantly expanded its Ethereum holdings, reaching $675 million after acquiring 31,057 ETH through a recent $150 million convertible notes offering. This strategic move signifies a shift from Bitcoin to Ethereum as part of the company’s broader crypto strategy. Bit Digital aims to build shareholder value by focusing on Ethereum infrastructure. This purchase positions them among the largest public ETH treasuries in the U.S., impacting market dynamics and potentially influencing other companies’ treasury choices.