Another Public Company Treasury Pivots to Ethereum With $172M Raise

Bit Digital has gone all-in on Ethereum after offloading all of its Bitcoin to purchase ETH.

The Nasdaq-listed firm raised $172 million from its BTC gross sales and purchased over 100,000 ETH, turning into the most recent company Ethereum treasury agency.

“Following a $172 million public fairness increase and conversion of its steadiness sheet from Bitcoin to Ethereum, Bit Digital has accrued over 100K ETH to turn out to be one of many largest company treasury corporations on this planet,” the agency stated on July 7.

Ethereum Treasury Corporations Rising

Previous to the providing, the publicly traded digital asset platform held 24,434 ETH as of March 31. Following the extra ETH acquisitions funded by the web proceeds of the general public choices and the sale of its BTC, the agency has accrued roughly 100,603 ETH price round $254 million at present market costs.

0/ One other public-company treasury simply went full-ETH.
Bit Digital (NASDAQ $BTBT) offered its total BTC stack, raised $172mn, and now holds ≈100,603 ETH, vaulting into the highest tier of company ETH treasuries.

— Eric Conner (@econoar) July 7, 2025

“We imagine Ethereum has the power to rewrite your complete monetary system,” stated Bit Digital CEO Sam Tabar, who added:

“Ethereum’s programmable nature, rising adoption, and staking yield mannequin characterize the way forward for digital belongings.”

He stated the agency was aligning itself with Ethereum’s “long-term potential” whereas positioning itself as a centered Ethereum treasury platform within the public markets.

“We’re beginning with publicity to over 100K ETH for now, however we intend to aggressively add extra so we turn out to be the preeminent ETH holding firm on this planet.”

Bit Digital has joined the ranks of Joe Lubin’s gaming agency SharpLink and Tom Lee’s Bitmine, which launched a $250 million Ethereum treasury final week.

“Tom Lee lit the fuse, Lubin confirmed the playbook, and Bit Digital simply proved scale. ETH-forward treasury methods are graduating from thesis to development,” commented former Ethereum developer Eric Conner.

ETH Value Response

As common, Ethereum prices haven’t reacted and have gone in the other way once more, in keeping with the broader market retreat at present.

ETH has declined 2% on the day in a fall to $2,528 on the time of writing. The asset failed to interrupt resistance at $2,600 late final week and has adopted the remainder of the market into the purple this week as US President Donald Trump began doling out his commerce tariff letters.

Ethereum remains to be tightly range-bound, in a sideways channel the place it has been caught for the previous two months.