US EditionBit Digital Stock Falls As Company Ditches Bitcoin For Ethereum - Bit Digital (NASDAQ:BTBT)
- On June 25, 2025, Bit Digital, Inc. announced it is shifting its focus exclusively to Ethereum staking and treasury management, establishing itself as a specialized company in this area based in New York.
- The company, previously concentrated on bitcoin mining, began increasing its Ethereum holdings and developing staking capabilities in 2022, and now intends to fully cease its bitcoin mining operations.
- As of March 31, 2025, Bit Digital held 24,434.2 ETH worth $44.6 million and 417.6 BTC valued at $34.5 million, while initiating a process to sell or wind down bitcoin operations.
- The firm will use net proceeds from divesting bitcoin mining to fund Ethereum purchases and stated that its ETH holdings have steadily increased since 2022 amid a 75% drop in the ETH/BTC ratio since December 2021.
- Following the announcement and a related public offering, Bit Digital’s shares fell 3.4% after-hours to $2.27, reflecting market reaction to this strategic pivot and associated risks noted in forward-looking statements.
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47 Articles
Bit Digital Exits BTC Mining to Focus Solely on ETH Staking Strategy
Bit Digital (BTBT) is changing course to become a dedicated ether ETH staking and treasury operation, the company said Wednesday. The New York-based firm will exit the bitcoin BTC mining business entirely, repurposing its assets and capital into its growing ETH strategy.The company began building its ether position and Ethereum staking infrastructure in 2022. As of March 31, Bit Digital held 24,434.2 ETH, valued at $44.6 million, and 417.6 BTC w…
Bennington Banner
Bit Digital, Inc. Announces Commencement of Public Offering of its Ordinary Shares
NEW YORK, June 25, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company") today announced that it has commenced an underwritten public offering of its ordinary shares. All of the ordinary shares to be sold in…
Bit Digital Stock Falls As Company Ditches Bitcoin For Ethereum - Bit Digital (NASDAQ:BTBT)
Bit Digital Inc (NASDAQ:BTBT) shares are falling in Wednesday’s after-hours session after the company announced a public offering. What To Know: Bit Digital said it commenced an underwritten public offering of ordinary shares. The company did not provide details of the offering, but said it plans to use net proceeds to purchase Ethereum (CRYPTO: ETH). In connection with the offering, Bit Digital said it initiated a strategic transition to ...Ful…
Cointelegraph
Bit Digital falls 4% as it ditches Bitcoin mining for Ethereum
Bit Digital's share price fell 4% after the firm announced its winding down its Bitcoin mining operations, with the proceeds being used to buy more Ether. The company further plans on selling its stock to increase its ETH stack.
Bit Digital Exits BTC Mining To Focus Solely On ETH Staking Strategy - Data Intelligence
Bit Digital staking and treasury operation, the company said Wednesday. The New York-based firm will exit the bitcoin mining business entirely, repurposing its assets and capital into its growing ETH strategy. The company began building its ether position and Ethereum staking infrastructure in 2022. As of March 31, Bit Digital held 24,434.2 ETH, valued at $44.6 million, and 417.6 BTC worth $34.5 million. It plans to convert the remaining bitcoin…
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