Bit Digital, Inc. (NASDAQ: BTBT) is on a significant uptick, with shares climbing 19.19% to reach $3.50 as of the last check. The surge followed the company’s announcement of the full execution of its Ethereum-focused treasury strategy.
Major Treasury Realignment
The decision came after Bit Digital successfully completed an underwritten public offering, generating approximately $172 million in gross proceeds. A substantial portion of these funds has since been deployed to acquire Ethereum (ETH). In a complementary move, the company also liquidated roughly 280 Bitcoins, reallocating the proceeds toward additional ETH purchases.
Expanding Ethereum Holdings
As of March 31, 2025, Bit Digital held 24,434 ETH; this amount has since grown to nearly 100,603 ETH. The increase shows how confident Bit Digital is in Ethereum’s financial and technological potential. The company thinks Ethereum is a game-changer in the developing digital economy because of its programmable structure, growing usage, and staking possibilities.
Establishing a Focused Ethereum Strategy
By consolidating its digital asset reserves in Ethereum, Bit Digital aims to position itself as the foremost Ethereum treasury platform among publicly traded entities. The company asserts this strategic pivot will lay the groundwork for its emergence as the largest ETH-holding firm globally. While its current exposure exceeds 100,000 ETH, Bit Digital has expressed intentions to continue expanding its position aggressively.
Public Offering and Capital Deployment
The company recently concluded a sizable equity offering to fund its Ethereum initiative. On July 1, 2025, underwriters exercised their full option to purchase an additional 11,250,000 ordinary shares, yielding approximately $21.4 million in net proceeds prior to expenses. With the full allotment exercised, Bit Digital issued a total of 86,250,000 ordinary shares.
The final net proceeds from the entire offering, inclusive of the additional shares, amounted to roughly $162.9 million. Bit Digital’s decisive treasury realignment reflects a bold commitment to Ethereum’s future as a foundational element of the digital asset space.
