Bit Digital (BTBT) has deepened its ETH stake, acquiring approximately 19,683 ETH using the net proceeds from a $67.3 million registered direct offering, according to a press release on Friday. The Nasdaq-listed miner-turned-Treasury company now holds roughly 120,306 ETH, ranking it among the largest institutional public holders of ETH.
CEO Sam Tabar emphasized that the programmable capabilities, broad adoption, and staking yield model of Ethereum underpin the company’s long-term treasury strategy. In June, the company announced a full commitment to ETH while reallocating $34.5 million in BTC to ETH.
The press release comes days after Bit Digital filed an S-1 for an IPO of its HPC subsidiary WhiteFiber.
Read More: Bit Digital’s WhiteFiber files S-1 for Nasdaq IPO
At time of publication, BTBT is up 3.7%.
