Bit Digital to Fully Transition into an Ethereum Staking and Treasury Company, Gradually Exiting Bitcoin Mining Operations

According to Jinse Finance, US-listed company Bit Digital (ticker: BTBT) has announced a strategic transformation, planning to gradually cease its Bitcoin mining operations and progressively convert its BTC holdings into ETH. The company will focus on Ethereum staking and asset allocation, aiming to become a “pure Ethereum staking and treasury company.” Bit Digital will sell shares and spin off its high-performance computing subsidiary, WhiteFiber, to raise funds for additional ETH purchases. As of the end of March this year, Bit Digital held over 24,000 ETH and 417 BTC, and operates one of the world’s largest institutional-grade Ethereum staking infrastructures.