Bit Digital purchased 8,568 ETH for $20 million on May 11 at an average price of $2,334.25 per coin, lifting its total Ethereum treasury to approximately 158,461.75 ETH. The publicly traded Bitcoin miner is doubling down on a dual strategy that pairs digital assets with high-performance computing infrastructure.
CEO Cites Ethereum as Foundational Infrastructure
CEO Sam Tabar stated that the company views Ethereum as a cornerstone of the future digital economy. Management is prepared to deploy capital when market conditions align with its investment thesis. The acquisition lowered the company's average cost basis while expanding its exposure to the second-largest blockchain by market cap.
Unlike most corporate treasury strategies that focus solely on Bitcoin, Bit Digital operates a hybrid capital allocation framework that combines Ethereum holdings, AI infrastructure investments, and strategic acquisitions. The firm said treasury growth is a key lever for enhancing net asset value per share over time.
Corporate ETH Holdings Gain Traction
Public company interest in Ethereum has been rising as executives seek exposure beyond Bitcoin's store-of-value narrative. Ethereum's smart contract platform and DeFi ecosystem offer a different risk‑reward profile that appeals to firms looking at blockchain adoption cycles. Large treasury purchases frequently serve as signals about management's conviction in a given blockchain network's long‑term viability. Investors watch these moves closely for clues on evolving corporate digital‑asset allocation.
WhiteFiber Secures $100M for AI Expansion
Alongside the ETH acquisition, Bit Digital secured a $100 million delayed‑draw loan facility for WhiteFiber, its majority‑owned AI infrastructure business. The financing will fund high‑performance computing operations as the company reduces its reliance on Bitcoin mining revenue. Both parties can increase the facility to $150 million by mutual consent as expansion plans progress.
Bit Digital is deploying capital across two growth tracks simultaneously: maintaining one of the largest public‑company Ethereum treasuries while expanding its AI footprint through WhiteFiber. The combined approach packages digital assets, artificial intelligence, and strategic growth under a single corporate umbrella.