Bit Digital, a Nasdaq-listed crypto infrastructure company, has announced plans to raise $67.3 million through a direct share offering. The funds will be used to buy more Ethereum (ETH), strengthening its position as a major institutional holder of the cryptocurrency.
This move comes shortly after the company revealed it had converted its entire Bitcoin treasury into Ethereum, signaling a significant strategic shift focused on the future of the Ethereum network.
Bit Digital Offers 22 Million Shares to Institutional Investors
On Monday, Bit Digital filed a proposal to offer 22 million ordinary shares directly to institutional investors at a price of $3.06 per share. The offering is expected to close on or around July 15, with B. Riley Securities acting as the placement agent for the transaction.
The company clarified in its statement that the net proceeds will be used to purchase Ethereum, showing confidence in ETH as a long-term store of value and a key infrastructure asset.
Why Is Bit Digital Focusing on Ethereum?
Bit Digital’s growing interest in Ethereum isn’t sudden. The company began accumulating and staking ETH in 2022, slowly building up its treasury to align with Ethereum’s shift to proof-of-stake and the growing demand for blockchain-based validation services.
Earlier this month, the company revealed that it had fully converted its Bitcoin holdings into Ethereum. As of July 7, 2025, Bit Digital holds approximately 100,603 ETH, valued at around $301 million based on current market prices.
This transition reflects a broader trend in the crypto world: institutions are now seeing Ethereum not just as a cryptocurrency but as a yield-generating infrastructure platform, thanks to staking, smart contracts, and DeFi integration.
Ethereum Price Surges in July Rally
The announcement coincides with a broader rally in the crypto market. Ethereum has been trading just under the $3,000 mark, gaining over 18% in the past week. At the time of writing, ETH is priced around $2,991.
This positive price movement likely encouraged Bit Digital to expand its holdings. Buying during an uptrend could provide additional momentum to Ethereum’s price, especially if other institutions follow Bit Digital’s lead.
Bit Digital’s Business Model Supports Ethereum Expansion
Bit Digital is not just a typical crypto investor—it operates as a crypto infrastructure provider. Its services include:
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Validator operations for Ethereum staking
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Enterprise-grade custody solutions
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Yield optimization for institutional clients
By purchasing more Ethereum, Bit Digital is not only increasing its treasury value but also reinforcing the backbone of its business operations. ETH is essential for staking rewards and validating transactions, which are key revenue sources for the company.
Second-Quarter Revenue Estimate Looks Promising
Alongside the share offering news, Bit Digital also released a preliminary revenue estimate for the second quarter of 2025. The company projects revenue between $24.3 million and $26.9 million, which reflects steady growth as the market rebounds.
Although Bit Digital’s stock closed down 1.2% at $3.29 on Monday, it has gained over 32% in the past month, showing investor interest amid the company’s Ethereum-focused strategy.
What This Means for Ethereum and the Crypto Market
Bit Digital’s bold move is another strong institutional vote of confidence in Ethereum. The company is not just buying and holding ETH—it is building a business model around Ethereum’s ecosystem.
This decision may have ripple effects across the crypto market. As Ethereum becomes more recognized as a productive and scalable asset, more public companies and funds might choose to hold ETH in their treasuries rather than Bitcoin or cash.
Furthermore, the move to raise capital specifically to buy Ethereum suggests that institutions view ETH as an appreciating asset, especially during a time of high market activity and positive sentiment.
Conclusion: Bit Digital Bets Big on Ethereum’s Future
Bit Digital’s $67.3 million share offering marks one of the most aggressive institutional Ethereum accumulation strategies to date. With over 100,000 ETH already held and more on the way, the company is clearly positioning itself as a leader in Ethereum-based infrastructure services.
As crypto markets continue to evolve, Bit Digital’s decision may be remembered as a turning point in the growing institutional embrace of Ethereum. Whether ETH continues its upward trajectory remains to be seen, but one thing is clear—Ethereum’s role in corporate treasuries is just getting started.
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