Bit Digital (BTBT) announced that it has initiated a strategic transition to become a pure play Ethereum staking and treasury company. The company began accumulating ETH and operating staking infrastructure in 2022 and has steadily increased its holdings since that time. As of March 31, 2025, the Company held 24,434.2 ETH and 417.6 BTC, valued at approximately $44.6M and $34.5M, respectively, as of that date. Bit Digital intends to convert its BTC holdings into ETH over time. In connection with the transition, the company has commenced a strategic alternatives process for its bitcoin mining operations that is expected to result in their sale or wind-down, with any net proceeds to be re-deployed into ETH.
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