Ether-focused Bit Digital announced today that it has purchased 19,683 Ethereum (ETH) tokens for $67.3 million. This purchase increases the company’s total ETH holdings to 120,306. The funds were raised through a recent offering targeted at institutional investors. Bit Digital, which once focused on Bitcoin mining, is now concentrating on Ethereum.
Bit Digital Commits $67.3M to Ethereum
The company announced that it bought Ethereum with funds from a registered direct offering worth $67.3 million. Earlier this year, the publicly traded firm sold all its Bitcoin to focus solely on Ethereum. CEO Sam Tabar noted that Ethereum’s smart contracts and staking rewards were key factors in this change.
As a result, Bit Digital is now one of the largest public holders of Ethereum. To support its focus on Ethereum, the firm has been actively raising funds. In June 2025, it raised $150 million through a public share offering to acquire more Ethereum. The company also sold its entire Bitcoin holdings, totaling $28 million, to increase its ETH reserves.
The recent offering was priced at $3.06 per share, specifically for buying more Ethereum. These steps highlight Bit Digital’s belief in Ethereum’s potential in decentralized finance.
Commitment to Cryptocurrency
Bit Digital’s recent actions highlight its strong commitment to the cryptocurrency market, particularly to Ethereum. The decision to raise funds through a registered direct offering and subsequently invest these funds in Ethereum shows the company’s belief in the asset’s potential for growth and stability.
By continuously purchasing and holding Ethereum tokens, the public company signals a long-term investment strategy. This strategy is motivated by the firm’s confidence in the expanding Ethereum ecosystem, which is seen as a foundation for innovative applications across various industries.
Bit Digital’s commitment to Ethereum follows the footprint of other notable companies that have also attached themselves to cryptocurrency. SharpLink Gaming and Gamesquare are just a few examples. For instance, while SharpLink Gaming recently committed $25.7 million to acquire 10,000 ETH, GameSquare’s board of directors has given the green light for a phased investment of up to $100 million in ETH.
As Bit Digital continues to prioritize its investments in Ethereum, its long-term objectives become increasingly clear.
