Ether-focused digital asset firm Bit Digital recently announced plans to raise $67.3 million to fuel its growing ETH treasury. The initiative follows the company’s full pivot away from Bitcoin to accumulate Ether, backed by its $172 million public equity raise and the sale of 280 BTC. Notably, its Ether moves make it one of the largest publicly traded Ether holders.
Bit Digital’s $67M Capital Raise
The funds will come from a registered direct offering of 22 million ordinary shares priced at $3.06 each, targeting select institutional investors. The offering, expected to close on July 15, 2025, will provide Bit Digital with capital earmarked exclusively for expanding its Ethereum holdings, further cementing its pivot to ETH treasury strategy.
Bit Digital also claims to have built an institutional-grade ETH staking infrastructure, generating yield since 2022. According to the firm’s recent disclosures, the establishment of an Ether treasury, backed by the new funds, will reinforce yield opportunities and long-term participation in the Ethereum ecosystem. Today, the firm controls 100,603 ETH (roughly $300 million).
Nonetheless, while shifting from crypto mining and staking to Ethereum treasury, Bit Digital is also a player in the high-performance computing (HPC) industry. The firm seeks to unlock value and bolster capital independence for its HPC operations by confidentially filing for an IPO of its subsidiary, WhiteFiber.
Another Firm Goes Big on Ether
Public companies are increasingly treating Ether as a strategic treasury asset, drawn to its yield potential and smart contract features. Leading the pack is SharpLink Gaming, which launched an Ethereum treasury strategy in late May following a $425 million private placement led by Consensy. It secured over 176,000 ETH initially and raised an additional $79 million.
SBET (SharpLink Gaming) is built on that belief$ETH isn’t just part of our strategy, it is the strategy
We buy it, stake it, and compound it because we believe it is the reserve asset of the internet
The asset is $ETH, the ticker is $SBET
— SBET (SharpLink Gaming) (@SharpLinkGaming) July 14, 2025
According to blockchain data, SharpLink accelerated its ETH accumulation with a yesterday purchase of 24,371 ETH, valued at approximately $73.25 million. The purchase was executed through Coinbase Prime. An Arkham Intelligence analysis revealed the firm accumulated over 62,200 ETH in just four days, bringing its total to 294,000 ETH, worth about $874 million.
SharpLink has also leveraged staking opportunities. The firm deployed more than 95% of its ETH treasury into staking and liquid staking protocols to generate yield and support network security.
