Bit Digital has increased its Ethereum holdings by acquiring 31,057 ETH worth approximately $140 million. This purchase was financed by selling $150 million in convertible notes, marking a key step in the company’s digital asset acquisition strategy. This purchase included the full exercise of underwriters’ options, bringing Bit Digital’s total holdings to around 150,244 ETH.
Bit Digital is currently the sixth-largest Ethereum treasury among publicly traded companies, according to data from Strategic ETH Reserve. The expanding Ether portfolio of the company highlights its strategic focus on blockchain assets, which are vital to digital financial systems. According to CEO Sam Tabar, Ethereum is viewed by the firm as a key part of the emerging decentralized infrastructure.