Bit Digital has gone all-ETH by selling all of its Bitcoin to acquire 100,603 ETH

Bit Digital has gone all-ETH after selling all of its Bitcoin. The Nasdaq-listed company raised $172 million from BTC and acquired over 100,000 Ethereum, making it one of the largest corporate ETH treasuries.

Bit Digital revealed its plans to focus solely on ETH staking last month. From a holding of 24,434 ETH as of the end of March, Bit Digital now has approximately 100,603 ETH worth approximately $254 million.

Sam Tabar, Chief Executive Officer of Bit Digital said, “Bit Digital is aligning itself with Ethereum’s long-term potential and positioning itself as a focused Ethereum treasury platform in the public markets. We are starting with exposure to over 100K ETH for now but we intend to aggressively add more so we become the preeminent ETH holding company in the world.”

This is not a first. BlackRock, the world’s largest asset manager, dumped $561 million in Bitcoin holdings and reallocated the capital straight into Ethereum last month. 

THIS COMPANY SOLD ALL OF THEIR BTC AND BOUGHT $200M OF ETH

Bit Digital just acquired $192.9M ETH after raising ~$172M from a public offering, and selling their entire holdings of BTC, worth ~$28M.

Bit Digital now holds a total of $254.8 Million of ETH. pic.twitter.com/nV3P9vhZU8

— Arkham (@arkham) July 7, 2025

 The possible gains and the risks.

Sam Tabar asserts that, “We believe Ethereum has the ability to rewrite the entire financial system. Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets.”

This move might offer a model for other mining companies. They can make money with Ethereum’s proof-of-stake method by locking up ETH to support network security. The returns are usually between 4% and 6.5% per year. This is a great option for traditional mining, which needs a lot of money.

However, while Bitcoin miners can use different hedging techniques, staking Ethereum is directly exposed to changes in the price of Ethereum on the market. A big drop in the value of Ethereum could be very bad for the company’s finances, even if the staking rates are high. This method increases both the possible gains and the risks.

Meanwhile, different markets initially had different reactions to Bit Digital’s news. The company’s stock price went down and hit a low point of $1.86. It then started to rise again after the company announced its strategy shift and sold 150 million shares. 

Ethereum has turned into a hot commodity for governments too’ According to recent reports, the United States government has deposited $218k ETH to Coinbase.

According to analysts, the change in price projects investors’ uncertainty on whether the shift will work and if it will be financially viable in the long run.

Ethereum vs Bitcoin mining 

Bit Digital’s move wasn’t entirely unexpected given the more challenging environment Bitcoin miners have experienced since last year’s halving. The Bitcoin halving in April 2024 reduced mining rewards from 6.25 BTC to 3.125 BTC per block. 

This reduction has led to significant declines in revenue and gross profits for miners. According to JPMorgan, average mining revenues have dropped by 46% since the halving, and gross profits have fallen by 57%. Also, BTC mining burns through electricity, and the miner must constantly upgrade hardware.

On the other hand, Ethereum staking gives you steady returns with way less overhead. BTCS CEO Charles Allen states, “Ethereum staking, by contrast, offers cleaner economics — yield without the expensive energy costs and rapidly depreciating assets.” 

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