In a bold move that redefines its market positioning, Bit Digital has announced a strategic pivot from Bitcoin to Ethereum as its core treasury asset. On July 25, the company filed with the U.S. Securities and Exchange Commission (SEC) to raise its authorized share capital from 340 million to 1 billion common shares—a maneuver designed to unlock future growth opportunities and solidify its position in the digital asset landscape.
According to Bit Digital's filing, proceeds from the expanded capital base will directly target Ethereum acquisition. The company aims to secure approximately $10 million in new funding, with shareholder voting on the proposal set for September 10. The influx of capital is earmarked not only for Ethereum accumulation but also to fuel mergers and acquisitions, enhance employee compensation programs, pay dividends, and support broad corporate operations.
Reshaping the Reserve: Bitcoin Sale Funds Massive ETH Buy
This move marks a sharp deviation from Bit Digital’s past as a heavyweight in the Bitcoin mining sector. Earlier in July, the company liquidated 280 BTC from its reserves—freeing up roughly $172 million to dramatically boost its Ethereum holdings. Within weeks, Bit Digital’s ETH balance ballooned from 24,434 ETH to more than 100,600 ETH, and a further purchase of 19,683 ETH on July 18 elevated the total to about 120,306 ETH.
This aggressive treasury expansion now positions Bit Digital among the world’s top ten Ethereum corporate holders—trailing only giants like SharpLink and BitMine, who together command over 2.3 million ETH (valued near $9 billion).
Why Ethereum? Institutional Perspective and Staking Yields
Bit Digital’s confidence in Ethereum is unambiguous. Company leadership highlights ETH as a rare institutional asset that combines capital appreciation with native yield, noting its robust on-chain utility and unmatched global developer network. “ETH offers a unique blend of growth and internal yield, making it an institutional giant. Its ecosystem depth and earning potential surpass those of any other asset, including BTC,” Bit Digital noted in its latest investor update.
The firm’s strategy includes active staking and validator operations—transforming its treasury from a passive store of value into an income-generating engine. This approach signals a broader institutional shift toward viewing Ethereum as a foundational asset for corporate treasuries and long-term portfolio growth.