Management deployed the net cash to acquire additional ETH, lifting the balance sheet from 24,434 ETH on March 31 to roughly 100,603 ETH today.
CEO Sam Tabar said Ethereum’s programmable design, growing adoption, and native staking yield “rewrite the entire financial system” and present a superior store-of-value thesis compared with idle Bitcoin.
Tabar added that Bit Digital plans to “aggressively add more” ETH and position itself as a focused Ethereum treasury vehicle in public markets.
Before the equity offering and coin sale, Bit Digital maintained a hybrid treasury that held both Bitcoin and Ethereum while operating hash-rate leases and validator nodes.
The ETH purchases remove BTC exposure entirely, leaving the company with an Ether position worth approximately $261 million at Monday’s $2,600 spot rate.
Management intends to stake most of the new inventory through its existing validator infrastructure, converting the holdings into an on-chain yield stream that can support operating expenses and future purchases.
Bit Digital’s strategy aligns with a broader shift among former proof-of-work miners who faced margin compression following Bitcoin’s most recent block reward halving.
By pivoting to proof-of-stake economics, the firm can generate a predictable reward rate of approximately 4% without the energy costs associated with hash rate procurement.
